International Court of Arbitration Opens in Asia
03 December 2012
The International Court of Arbitration of the International Chamber of Commerce has opened its first office in Asia, in Central, Hong Kong.
The office, the ICC’s first outside Paris, was made in recognition of the growing importance of Asia-Pacific to the International Court of Arbitration as well as the increasing demand for arbitration services in the region, a release said.
“The Asia-Pacific region is of significant importance to the future of ICC Dispute Resolution Services,” said Jason Fry, secretary general of the ICC Court. “The decision to open the Hong Kong office is a response to market demand. We anticipate that demand in the region will grow.”
Fry said that as a neutral forum for conducting China-related arbitration and dispute resolution between Chinese and non-Chinese entities, Hong Kong is a logical choice for ICC. He said the office will also have a much wider focus on Asia, including important economies such as India, Korea and Japan as well as emerging economies like Vietnam.
“The opening of the Asia office signifies the endorsement of Hong Kong’s position as a premier centre for international arbitration services,” said Wong Yan Lung, secretary for justice of the Hong Kong Special Administrative Region. “Such presence will further enhance the provision of arbitration services in Hong Kong.”
The Hong Kong branch of the Secretariat is expected to house six staff and will be fully operational by the beginning of next year.
