On May 8th, 2017, CIETAC Deputy Secretary-General Li Hu, met with Mr. Ismail Selim, Chairman of the Cairo Regional Centre for International Commercial Arbitration(CRCICA) in Beijing. They had comprehensive discussion on cooperation between the two institutions.
Mr. Selim firstly made a brief introduction about CRCICA. He pointed out that as the oldest and largest international commercial arbitration center in Africa, the number of cases accepted in CRCICA had been increasing year by year recently. And as one of the important countries in “One Belt One Road” initiative, Egypt attaches great importance to trade with China and development of related dispute resolutions. He stressed that CRCICA made further development from both arbitration rules referring to UNCITRAL rules and the support for arbitration from Egyptian Arbitration Law. Based on the previous cooperation, CRCICA looks forward to strengthening communication with CIETAC, which will make both institutions a more important role in the developing process of international commercial arbitration in Asia and Africa.
Deputy Secretary-General Li expressed a warm welcome to Mr. Slime's visit and introduced business development of CIETAC in recent years. He pointed out that CIETAC had signed the cooperation agreement with CRCICA back in 2010 to establish a solid cooperative relationship. Both sides should continue promoting bilateral cooperation in the field of commercial arbitration in China and Africa based on the existing friendly cooperation. In recent years, with the increased impact of “One Belt One Road” initiative, CIETAC has made further progress in its internationalization effort. Deputy Secretary-General Li also expressed the wish to strengthen communication with CRCICA in relevant areas of dispute resolution.
The two institutions also exchanged a comprehensive discussion regarding issues in China and Africa on topics of recognition and implementation of foreign arbitral awards, and issues of panel and appointment of arbitrators in CIETAC and CRCICA.