SCC Arbitration Institute and CIETAC Renew Cooperation Agreement
The SCC Arbitration Institute and the China International Economic and Trade Arbitration Commission (CIETAC) have renewed their Cooperation Agreement, originally signed in 1984. The renewal took place at the China Arbitration Summit 2024 in Beijing, attended by over 5 million participants, and aims to strengthen international cooperation in arbitration.
Published 2024-10-03
The agreement highlights the shared commitment of SCC and CIETAC to promoting arbitration and alternative dispute resolution, with the goal of improving the efficiency and effectiveness of international arbitration.
Caroline Falconer, Secretary General of SCC, expressed her enthusiasm about the agreement, stating:
"The renewed partnership with CIETAC is a testament to our shared vision of promoting arbitration. This Cooperation Agreement reflects both institutions’ dedication to fostering international dialogue and cooperation in arbitration."
Chengjie Wang, Vice Chairman and Secretary General of CIETAC, echoed these sentiments, highlighting the importance of international cooperation in arbitration:
"The signing of this agreement marks a new chapter in our relationship with SCC. We are confident that this partnership will bring about significant advancements in the field of arbitration".
Sweden has a long-standing relationship with China, having been the first Western country to establish official diplomatic ties in 1950. SCC has also handled many cases involving Chinese parties, further strengthening its ties with China’s business and arbitration communities.
SCC remains committed to building strong relationships with Chinese arbitration institutions and promoting efficient international dispute resolution.