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Arbitration Helps China's Trade Growth
Just and efficient arbitration and intermediation have been playing an important role in solving disputes in international commercial activities and promoting the development of the nation's international trade and economy.
Zhao Jian, arbitrator of the China International Economic and Trade Arbitration Commission (CIETAC) made the remark at the 2001 APEC Customs-Business Dialogue (ACBD) Monday.
He said with the rapid growth of the international trade and investment, the commercial disputes have increased at a tremendous speed..
Established in 1956, CIETAC is the first arbitration organization in China and one of the most important arbitration commissions in the world. In 1995, the commission accepted and dealt with 902 international commerce dispute cases.
Zhao said CIETAC is composed of over 500 arbitrators at home and abroad, including over 30 persons from Hong Kong and Macao as well as over 120 foreigners. In addition, it has signed cooperative agreements with Japan, Thailand, South Korea, United States and Canada.
CIETAC's mediation center, founded in Beijing in 1987, helps the parties to settle the economic and maritime disputes reasonably through mediation.
Zhao Jian said there are now 36 mediation centers in main cities, forming a mediation net all over the nation. By the end of 2000, the CIETAC network had handled over 2,000 cases, with the overall success rate surpassing 80 percent.
The CIETAC mediation center had signed mediation agreements with similar enters in Hamburg, New York and Argentina, Zhao said, adding that more cooperation protocols will be signed this year.
Zhao added that China's mediation institutes can solve foreign economic disputes in a reasonable, efficient, flexible and private way. At the same time, they have promoted China's economic and trade development and enhanced the nation's economic competitiveness.
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