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02 Richard Bell DAW 2019

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The Belt and Road Initiative is an initiative that has been championed by President Xi Jingping to encourage Chinese companies to invest in and open up new markets for Chinese goods and services. One of the regions which is of interest to China is the Middle East. At the moment, investment is primarily focused on the projects and infrastructure space. What does that mean for arbitration? Well, with the increasing presence of Chinese contractors in the Middle East, there has been a rise in the number of high value and complex arbitrations involving Chinese parties. Now, in the past, Chinese companies have typically relied on Chinese domestic firms to represent them in their disputes. But our observation is that that attitude is now changing and Chinese companies are realising that they need to have experienced counsel who know their way around the economy and international arbitration generally to represent them. As far as emerging trends are concerned, we expect to see investment from Chinese companies broadening out into areas such as communications, trade and commodities and manufacturing and, as a result of that, the diet of disputes will similarly broaden out to include more commercially oriented disputes rather than purely projects and infrastructure related disputes. So, in summary, what the Belt and Road Initiative means for arbitration in the Middle East: more investment, more disputes and more arbitration work for the international arbitration community here in the Middle East.

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Language: English
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Posted by: clydecomarketing on Nov 14, 2019

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