On 13 June 2018, the 3rd Symposium on China-South Asia and Southeast Asia Commercial Legal Cooperation was successfully hosted by China Council for the Promotion of International Trade (CCPIT) in Kunming. More than 300 delegates from India, Burma, Sri Lanka, Laos, Cambodia and SAARC Chambers of Commerce and Industry, as well as representatives from local CCPIT, business circle, the field of law and academia attended the Symposium. Vice Chairman of CCPIT Mr. Zhang Wei attended the meeting and delivered a speech.

Secretary of Party Committee & Vice Secretary-General of CIETAC Mr. Li Hu was invited to attend the meeting. During the discussion of “Prevention and Resolution of the Belt and Road International Commercial Dispute”, Li delivered a speech in English on “The Belt and Road International Commercial Dispute Resolution Mechanism”. Li pointed out that the in-depth implementation of the “Belt and Road Initiative” objectively requires a compatible dispute resolution mechanism and also requires internationalization of China’s arbitration, calls for the strengthened cooperation among regional and even international arbitration institutions. This course will also create new dispute resolution platforms. Li took CIETAC as an example to illustrate the process and latest practice of the internationalization of Chinese arbitration institutions. He also called on international arbitration institutions to enhance cooperation with healthy competition, establish joint mechanisms, and commit themselves to resolve disputes quickly and efficiently for the parties. Furthermore, he shared his opinion and outlook on the emergence and operation of the new dispute resolution platform.

The discussion was hosted by Mr. Liu Chao, Deputy Director of CCPIT Legal Affairs Department.