HONG KONG, Dec. 8, 2023 /PRNewswire/ -- The Asia-African Legal Consultative Organization (AALCO), an international inter-government organization established in 1956 and now with 47 member countries with a combined GDP of over US$26 trillion and a seat in the United Nations speaking for two-thirds of the world's population on matters common concern including peace, fairer rules for growth of the digital economy, economic growth, facilitation of trade, prevention and resolution of conflicts and disputes, has successfully concluded the AALCO Annual Arbitration Forum 2023 in Hong Kong. The event, with the theme "Resolving Differences in a Changing World by Staying True to the Bandung Spirit", was hosted by AALCO Hong Kong Regional Arbitration Centre (AALCO-HKRAC) with the support of host country's Department of Justice in Hong Kong, and 53 supporting organizations including airline sponsors, leading chambers of commerce, leading professional bodies, leading disputes resolution centres in Asia and Africa. The hybrid event was attended by over 1500 people from over 30 countries and telecasted for millions to participate. Attendees included business leaders, industrialists, innovators, entrepreneurs, ambassadors, consul generals, heads of legal department of major international company, leaders of arbitration institutions, professional organizations, judges, officers from ministries of justice, elected lawmakers and government officials.
The Hon John Lee, the Chief Executive of the Hong Kong SAR of the PRC delivered the opening welcome remarks emphasizing that, "Hong Kong champions free trade and we are committed to promoting regional and international cooperation. We endeavour to serve as a 'super connecter' and 'super value-adder' between the mainland of China and the rest of the world. We will continue to step up our efforts in accelerating as an international legal centre. The official opening of AALCO-HKRAC in May 2022 is an acknowledgment of Hong Kong's position as a leading centre for international legal and dispute resolution services in the Asia Pacific region in line with our positioning under the national 14th Five-Year Plan."
His Excellency Dr. Kamalinne Pinitpuvadol, Secretary General of AALCO flew in from the global headquarters of AALCO and remarked that the objective of setting up AALCO regional arbitration centres is to create stability and confidence in commercial relations by providing suitable means of commercial dispute resolution under a fair, reasonable mechanism in the Asian-African regions. AALCO-HKRAC, being the sixth centre of AALCO, plays a pivotal role in promoting alternative dispute resolution internationally with world-class facilities including world-leading Online Disputes Resolution platform that is cost and time efficient, security by design and privacy by design.
Mr. FANG Jianming, Deputy Commissioner, Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China said that this forum will strengthen and build upon Hong Kong's unique leadership and advantage in international commercial arbitration and Online Dispute Resolution to help promote economies and legal cooperation in Asia and Africa.
Mr. Nick Chan, Justice of the Peace and head of the AALCO-HKRAC lead panel discussions with experts sharing practical insights on the latest law changes, court practices, arbitral award enforcement, and state-of-the-art AALCO ODR Platform and interim relief measures uniquely available in Hong Kong to help businesses around the world be able to preserve assets and evidence in Mainland China immediately after commencement of arbitration with AALCO-HKRAC, and how businesses can take advantage of Hong Kong as a spring-board to access markets in the 47 member states of AALCO and the rest of Africa, Middle East and Asia.
Businesses can get a treasure trove of insights by revisiting the recorded proceedings where experts from around the world gathered together to identify opportunities, shared practical insights and explored the way forward in advancing peace, economies and resolutions of disputes and conflicts, and in understanding industry insights concerning mega infrastructure projects, ethical development of AI, B2C, B2B, eCommerce, ESG, FinTech, IP trading, LawTech and ODR, and explored ways for harmonization of rules and standards.
AALCO-HKRAC, established by international law, with clear "country-neutral" advantage, and part of a widely recognized and respected AALCO Dispute Settlement System that adds to the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards, may be the best option of choices for local, national and international disputes in a neutral, impartial and cost-effective way.
CONTACT: 2180 0923 / email@example.com