HKIAC and ISTAC sign cooperation agreement
HKIAC is pleased to announce that it has entered into a cooperation agreement (Agreement) with the Istanbul Arbitration Centre (ISTAC). ISTAC President Ziya Akıncı and HKIAC Secretary-General Sarah Grimmer signed the Agreement during an online meeting attended also by ISTAC Secretary-General Yasin Ekmen and HKIAC Deputy Counsel Gökçe Uyar.
Grimmer comments that “HKIAC is delighted to connect in this way with ISTAC and looks forward to working together to support users’ needs. With the arrival at HKIAC of Gökçe Uyar, a Turkish lawyer, we have been able to engage directly with the Turkish arbitration and business communities.”
Akıncı states “we are excited about our formal collaboration with HKIAC. As business increasingly turns East, this collaboration is well timed as we aim to work together in the best interests of the international business community.”
Disputes related to Turkey have consistently featured in HKIAC’s caseload over the past decade. The disputes have involved a range of subject-matters including aviation, logistics, sale of goods, and construction, with the parties involved being from Asia and the Middle East. Given Turkey’s position in the Belt and Road Initiative we anticipate an increased need for dispute resolution services involving Chinese and Turkish parties.
As a preferred choice for China-related disputes, HKIAC has extensive experience with international disputes involving Chinese parties. Since 2019 users to Hong Kong seated arbitrations have also benefitted from the unique HK-PRC Interim Measures Arrangement under which applications for asset preservation orders to PRC courts have reached US$2.2 billion to date.
Please click here to read the Turkish-language translation.