As you may know, the 3rd annual Hong Kong Arbitration Week is taking place from October 14–17, 2014. The expansion and globalisation of cross-border investment and trade is leading to increased and ever-more complex commercial relationships between businesses, investors and states.
Commenting on the development of international arbitration in Asia, Ing Loong Yang, a partner of Latham & Watkins for the firm’s intentional arbitration practice in Asia, said “the 2014 Hong Kong Arbitration Week seeks to review the challenges and achievements in international arbitration as well as promote the development of the arbitration practice in Asia. International arbitration as a mode of dispute resolution, especially for cross-border disputes, has gained impetus and prominence as an alternative to traditional court litigation. In Asia, Hong Kong has long stood out as a beacon of success as a preferred seat of arbitration for users of international arbitration. This is due to a combination of factors: a strong legal framework, a high-quality and independent judiciary, good connectivity with the rest of the world, ample supply of good hearing facilities and a ready pool of legal talent. Meanwhile, Singapore stands out as a good alternative to Hong Kong. In many ways, Singapore’s attractiveness as an arbitral venue rival many of Hong Kong’s. Also, Singapore is making a big push to market itself as a total hub for dispute resolution, offering a suite of services.”
