The Kuala Lumpur Regional Centre for Arbitration (KLRCA) and the International Court of Arbitration of the International Chamber of Commerce (ICC) have signed a Memorandum of Understanding (MoU) to cater to the growing dispute resolution needs of businesses across Asia.
Under the terms of the MoU, the KLRCA and ICC Court will work together to develop and promote Malaysia as a safe seat and venue for arbitration in Asia. This will be accomplished through the co-sponsorship and organising of trainings and programmes—ultimately advancing thought leadership and increasing arbitration awareness within the region. Additionally, the KLRCA will provide hearing and conference space to ICC and the ICC Court, as well as ICC Court users.
Based in Paris, the ICC Court is one of the world’s leading arbitral institutions. Earlier this year, it announced record figures with 966 new cases filed for administration under ICC rules in 2016. In June, the ICC Court unveiled its latest case management office in Singapore—the fourth overseas establishment after Hong Kong, New York and Brazil. The new office is expected to begin operations in the first quarter of 2018.
Alexis Mourre ICC Court President said: “In accordance with our enhanced presence in Asia, this MoU allows us to continue offering best-in-class services in a marketplace that has shown impressive growth and a strong focus on arbitration and alternative dispute resolution. We look forward to working in cooperation with the KLRCA.”
In recent years, Malaysia has become a global alternative dispute resolution (ADR) hub. The KLRCA is also known as an international centre of excellence, having handled 673 cases in 2016.
Sundra Rajoo Director of KLRCA said: “As we celebrate our 40th anniversary next year and unveil our new logo and name—the Asian International Arbitration Centre—we continue to look into the future to shape the global system of conflict resolution. Building on our reputation over the past four decades, we remain dedicated to innovation, capacity building and holistic alternative dispute management for the industry. This MOU with ICC—a mainstay and significant influencer since its inception—will undoubtedly create a dynamic synergy, sparking a greater front for the overall dispute resolution landscape in this region.”
Conveniently located within walking distance of the city’s largest transit station, the KLRCA’s Sulaiman building boasts state-of-the-art hearing facilities with 23 hearing rooms, 12 breakout rooms, a business centre, library, dining areas and an auditorium. Along with recent cutting-edge upgrades to its audio visual, video conferencing, live broadcast systems and court recording and transcription sessions, the KLRCA fully expects to offer a complete and live virtual hearing experience—in line with the latest technological trends and standards. These steps reflect the KLRCA’s commitment to providing a one-stop shop with top of the line virtual arbitration services on a global scale.
The KLRCA and ICC Court having already successfully organised a series of events prior to the signing of the MOU: the ICC-KLRCA International Arbitration Conference in 2016 and the joint ICC-KLRCA Vis Pre-Moot in early 2017. Both institutions have expressed their intent and commitment in continuing to annually organise both events for the greater good and benefit of the dispute resolution community in Malaysia and the rest of the region.