BEIJING: Guangzhou Arbitration Commission (GZAC), China and Center for International Investment and Commercial Arbitration (CIICA) - Pakistan’s first international arbitration center - signed a memorandum of understanding (MoU), to deepen cooperation in international arbitration between both countries, according to China Economic Net.
GZAC stated that the signing of MoU symbolizes the joint construction of Belt and Road Initiative (BRI) by arbitration organizations of China and Pakistan.
In the future, the two sides will further promote the “Four Sharing”, explore new paths for the development of online dispute settlement mechanisms, jointly cope with the increasing number of transnational disputes and offer international arbitration services in a better way.
Chen Simin, Director of GZAC, noted on the occasion that the cooperation reached between CIICA
and GZAC in the “Four Sharing” will surely promote the cooperation between China and Pakistan in the field of arbitration legal services.
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