Hong Kong & The Mainland Sign Pact For Co-operation re Legal Services for Commercial Matters & Arbitration

Tax News.com reports that Hong Kong and? Mainland China have? signed a legal pact? to co-operate on arrangements for legal services for commercial matters and arbitration.


here’s what they say

http://www.tax-news.com/news/Hong_Kong_Mainland_China_Sign_Legal_Pact____46059.html

Hong Kong?s Secretary for Justice, Wong Yan Lung, and mainland China’s Vice Chairman of the China Council for the Promotion of International Trade, Dong Songgen, have signed a bilateral cooperation arrangement on legal services for commercial matters and arbitration.

The arrangement strengthens information exchanges and collaboration in organizing conferences on legal services and related activities. It will help enterprises in both places provide training in commercial and arbitration law to encourage the establishment of better risk management and dispute resolution mechanisms for commercial matters.

It also promotes and facilitates cooperation and exchange between legal departments under the Mainland Council and related bodies in Hong Kong in arbitration, mediation and intellectual property protection.

Wong confirmed that the Department of Justice strives to promote Hong Kong as a regional legal services and dispute resolution centre. “Hong Kong International Arbitration Centre has successfully emerged as a key international arbitration centre in the Asia Pacific region,? he said. ?The International Court of Arbitration of the International Chamber of Commerce also set up its first Asian branch Secretariat in Hong Kong in 2008, which is an important milestone to mark Hong Kong’s leading role in international arbitration services.?

?The signing of the arrangement today is our continued effort in this respect,? he added. “With the Mainland’s dynamic economic development and frequent trade activities with Hong Kong, the demand for legal and arbitration services is on the rise. I believe the signing of the arrangement will be mutually beneficial and will achieve a win-win situation, thus further strengthening Hong Kong’s position as a regional legal services and dispute resolution centre.”