THAC and SHIAC join hands to sign an MoU intended to develop ADR and prepare for Thai – Chinese’s investment.
Thailand Arbitration Center (THAC), led by Mr. Pasit Asawawattanaporn Managing Director along with Ms. Wang Weijun, Secretary-General of Shanghai International Arbitration Center (SHIAC) and Ms. Chen Hong, Director of Trade and Investment Promotion Department, Shanghai Council For the Promotion of International Trade (CPIT) jointly signed the MoU on behalf of the Alternative Dispute Resolution Center in Thailand and the People’s Republic of China to join forces to prepare for possible dispute resolution in international investment disputes. The ceremony was held through the Zoom Conference on July 28, 2022.
Mr. Pasit Asawawattanaporn, in conjunction with Ms. Wang Weijun and Ms. Chen Hong mentioned the importance of this cooperation ceremony as an honor and a good vision for both the international investment sector as well as other related industries including cooperation in the judicial process especially supporting the mutual alternative dispute resolution process. especially supporting the mutual alternative dispute resolution process. It is a smart preparation for the “OBOR” trade or other strategic international free investments. This will help encourage businesses to invest without obstacles in the face of international disputes that may arise because of arbitration. or mediation is an important tool that helps to end disputes quickly. and maintain mutual trade relations.
In addition, the signing ceremony also featured keynote speeches from experts on both sides including Mr. Visit Sriwattanapanya Counsel of THAC and Mr. Yao Hongmin, Deputy Secretary – General of SHIAC. Under the heading “Newest Arbitration Practice between China and Thailand” by discussing about the issue of promotion and development of alternative dispute resolution in both arbitration and mediation in terms of cooperation in the Thai-China Dispute Resolution Center (TCIAC), with the aim of building confidence and remove the impact of business conflicts or international investment with different laws in each country may lead to the complexity of the trial through solving the problem through alternative dispute resolution that will facilitate both parties together.
Likewise, the signing ceremony also included another interesting topic as “Impact of RCEP on international arbitration” It was honored by experts such as Varapote Chensavasdijai Director, Ministry of Foreign Affairs of the Kingdom of Thailand, Donlaporn Ajavavarakula Director of Thailand Board of Investment Shanghai Office & Consul if Royal Thai Consulate General in Shanghai Phetchlada Phungprasert Counsel of THAC Jin Liyu, Arbitrator of SHIAC & Han Kun Law Officers. Participate in discussions and exchange knowledge and share experiences to the origins, present, obstacles and challenges of arbitration in Thailand facing the world’s largest free trade-investment dispute, the Regional Comprehensive Economic Partnership (RCEP).