On September 6, Sergey Katyrin, President of the Chamber of Commerce and Industry, held a session on "Development of International Commercial Arbitration in the Asia-Pacific Region" as part of the IX Eastern Economic Forum (EEF-2024) in Vladivostok.
The President of the Chamber noted that the development of economic cooperation between the Asia-Pacific region countries requires an effective mechanism for resolving possible economic disputes. And practice has shown that international commercial arbitration is precisely such a mechanism.
Sergey Katyrin recalled that international arbitration institutions effectively resolve foreign economic disputes, and their decisions are executed by the parties voluntarily or are enforced in accordance with the New York Convention of 1958 in more than 170 countries that are parties to the convention.
The Chamber has been developing arbitration for over 90 years. The International Commercial Arbitration Court (ICAC) and the Maritime Arbitration Commission (MAC) operate under the Chamber.
At the end of last year, the RF CCI approved new recommended lists of arbitrators of the ICAC and MAC for the next six years. The current list of ICAC arbitrators for international commercial disputes includes 137 specialists from more than 20 countries. The list of the MAC includes 33 arbitrators from 5 countries.
Foreign arbitrators are also members of the governing bodies of the ICAC - the Presidium of the ICAC (arbitrators from the USA and Germany) and the Committee for the Appointment of Arbitrators of International Commercial Disputes (arbitrators from the Czech Republic and Germany).
Sergey Katyrin also recalled that 26 regional branches of the ICAC have been opened to date. He also announced that a decision had been made to open a branch of the MAC in Vladivostok, where an ICAC branch is already operating.
The head of the RF CCI noted the expansion of interaction between the ICAC and the MAC with arbitration institutions in the Asia-Pacific region, with many of which agreements have been concluded, joint events are actively held, and arbitrators are exchanged.
The Chairman of the ICAC and the MAC at the RF CCI Alexey Kostin spoke in a video message about the experience and tasks of the arbitration institutions. He specified that the new branch of the IAC in Vladivostok will be the second regional one - the first was opened in St. Petersburg.
Deputy Chairperson of the IAC Anna Arkhipova revealed the specifics of dispute resolution and also spoke about the main changes to the IAC arbitration rules approved last year.
Director of the Arbitration and Mediation Center of the Chamber of Commerce and Industry of the Russian Federation Dmitry Podshibyakin cited statistics on case reviews for 2023.
Thus, the IAC accepted 521 claims for consideration, including 215 claims from 227 contracts on international commercial disputes, 196 claims on domestic disputes, 107 claims on domestic disputes from IAC branches, 2 claims on sports disputes and 1 claim on a corporate dispute. Companies from 48 countries applied to the IAC for dispute resolution.
Last year, the IAC accepted 10 claims for consideration involving companies from Russia, Uzbekistan and the Netherlands. All disputes were considered by a panel of arbitrators.
During the session, Sergey Katyrin thanked the executive secretary of the ICAC branch in Vladivostok, Natalia Prisekina, for her work. She will also head the newly created ICAC branch.
Also speaking at the session were the head of the legal block of the state development corporation VEB.RF, Igor Krasnov, the chairman of the Indian International Arbitration Centre, Hemant Gupta, and the director of the Singapore International Arbitration Centre for China, Yuyuan Zhang.
By Nail Shakhvaliyev,
Press Service of the Chamber
