The Singapore International Arbitration Centre (SIAC) is pleased to announce that it has entered into a Memorandum of Understanding (MOU) with the National Commercial Arbitration Centre (NCAC) in Cambodia to promote international arbitration as a preferred method for resolving international disputes.
Under the MOU, SIAC and NCAC will jointly organise in-person, hybrid, and virtual conferences, seminars and workshops on international arbitration in Cambodia and Singapore, and will invite key members of their local arbitration community to attend and participate in major events organised by SIAC in Cambodia or by NCAC in Singapore. Both institutions will, upon request, conduct training programmes for each other’s staff.
The MOU was signed on 24 March 2022 by Ms Gloria Lim, CEO of SIAC, and Mr Bun Youdy, President of NCAC.
Mr Bun Youdy, President of NCAC, said, “We are pleased to finally formalize our collaboration with SIAC after having worked together for many years. The NCAC is committed to harmonizing with international best practice, and enhancing our collaboration with the SIAC would bring great benefits to our users, businesses and the arbitration practitioner community. We also look forward to knowledge and experience sharing in the area of case management with SIAC.”
Ms Gloria Lim, CEO of SIAC, said, “Cambodian parties are increasingly entrusting their international disputes to SIAC. This collaboration with NCAC provides a good platform for both institutions to jointly promote the benefits of international arbitration as an effective, efficient and enforceable mode of dispute resolution for cross-border commercial projects and investments involving companies, businesses and investors from Indochina and the rest of the world. We look forward to further deepening our ties with users in Cambodia and the Cambodian arbitration community.”
The Press Release may be read in full here.