SYDNEY, Australia--25 May--Medianet International-AsiaNet/InfoQuest
Australia's leading commercial arbitration body, the Australian Centre for International Commercial Arbitration (ACICA) and the world's oldest intergovernmental institution for international dispute resolution, the Permanent Court of Arbitration (PCA) have signed an agreement to promote the utilisation and education of arbitration in the Asia- Pacific.
The historic agreement was signed following an offer by the PCA to the Australian government to enter into a Host Country Agreement that would provide the PCA with privileges and immunities similar to those enjoyed by the PCA at its headquarters in The Hague.
The Australian federal and state governments are currently reviewing legislation to further position Australia as an attractive and competitive global arbitration centre.
ACICA President, Professor Doug Jones AM said: "This agreement recognises Australia's arbitration expertise in the international market and we look forward to working closely with the PCA particularly in the Asia-Pacific region."
PCA Deputy Secretary-General Brooks W Daly said: "ACICA has played a key role in the establishment of Australia as a leading jurisdiction in the development of international arbitration. As the PCA is called upon to
administer cases in the Asia Pacific region with greater frequency, we expect cooperation with ACICA to be a tremendous resource, both through ACICA's accumulated expertise as well as its excellent new hearing facility in Sydney."
Details of the agreement were announced today in Rio de Janeiro just before the opening of the International Council for Commercial Arbitration (ICCA) Global Congress.
Contact: Gianna Totaro
ACICA Media Relations
+61 438 337 328
[email protected]
Australian Centre for International Commercial Arbitration
The Australian Centre for International Commercial Arbitration (ACICA) is Australia's only international arbitral institution. Established in 1985 as a not-for-profit public company, its membership includes world leading
practitioners and academics expert in the field of international and domestic commercial arbitration. ACICA aims to educate, promote and encourage the use of international commercial arbitration as a means of dispute resolution, and to promote Sydney and Australia as an international seat of arbitration. www.acica.org.au
Permanent Court of Arbitration (PCA)/Cour Permanente D’Arbitrage
The Permanent Court of Arbitration (PCA) was established in 1899 as one of the acts of the first Hague Peace Conference, which makes it the oldest intergovernmental institution for international dispute resolution. The PCA is housed in the Peace Palace in The Hague, which was built specially for the Court in 1913 with an endowment from Andrew Carnegie and provides services for the resolution of disputes involving various combinations of states, state entities, intergovernmental organisations, and private parties. In the early 1980s, the PCA helped in setting up the administrative services of the Iran-United States Claims Tribunal. It also administers cases arising out of international treaties (including bilateral and multilateral investment treaties), and other agreements to arbitrate; disputes over territorial and maritime boundaries, sovereignty, human rights, international investment (investor-state arbitrations), and matters concerning international and regional trade. www.pca-cpa.org
SOURCE: Australian Centre for Commercial International Arbitration
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