On 8 August 2024, AALCO Hong Kong Regional Arbitration Centre (“AALCO-HKRAC”) welcomed Malaysia Minister in the Prime Minister’s Department (Law and Institutional Reform), and senior delegation from Asian International Arbitration Centre (“AIAC”).
AALCO-HKRAC and AIAC, being brother-sister centres operating under the auspices of Asian-African Legal Consultative Organization (“AALCO”), have been working closely to foster a robust rule of law framework and effective dispute resolution mechanisms across the region.
The Honourable Dato’ Sri Azalina Othman Said, the Minister in the Prime Minister’s Department (Law & Institutional Reform), Dato’ Mary Lim Thiam Suan, the Director of the AIAC, and Mr Nick Chan, BBS, MH, JP, Director of the AALCO-HKRAC, shared a comprehensive overview of the legal industry in Malaysia, Hong Kong and the region, initiating a dialogue on how AALCO can actively contribute to the growth of economies and the legal sector. Building on the MoU signed between AALCO-HKRAC and AIAC in 2023, discussions also centered around strategies to deepen and expand collaboration for mutual benefit and growth.
One of the major contributions of AALCO to the economic field is the launch of the Integrated Scheme for Settlement of Disputes in the Economic and Commercial Transactions in 1978. Pursuant to that Scheme, it was decided to establish regional arbitration centres under the auspices of AALCO, which would function as international institutions with the objectives to promote international commercial arbitration in the Asian-African regions and provide for conducting international arbitrations under these centres.
