HKIAC signs MoU with the Government of The Bahamas

PRESS RELEASE

HKIAC signs Memorandum of Understanding (MoU) with the Government of The Bahamas. 

Nassau and Hong Kong

Cementing a new relationship for cooperation, HKIAC and the Ministry of Economic Affairs of the Government of The Bahamas are pleased to announce the signing of a Memorandum of Understanding (MoU), to promote and develop international arbitration and other forms of alternative dispute resolution.

Following in-person meetings during 2023 and at the 2024 ICCA Congress, the MoU was signed  virtually between Ms Joanne Lau, Secretary-General of HKIAC and Mrs Prenell King-Rolle, Permanent Secretary of the Ministry of Economic Affairs on 15 May 2024.

Joanne Lau remarked, “We are pleased to collaborate with the Government of The Bahamas on their initiatives to promote arbitration and other methods of dispute resolution.  We look forward to forging this new partnership in the Americas.” 

Minister responsible for international commercial arbitration, Senator the Honourable Michael B. Halkitis, Minister of Economic Affairs, stated that, “This Agreement of Cooperation with an established and leading arbitral centre like the Hong Kong International Arbitration Centre is an important milestone in the promotion and development of international commercial arbitration for The Bahamas. In the past, we have been primarily focused on legislative reform. But, having now enacted the UNCITRAL Model Law on International Commercial Arbitration, we have shifted focus to education and capacity-building while building valuable relationships with key players in the global dispute resolution community. Our collaborative partnership with the Centre, is indicative of this focus.”

Collaborative Efforts in Advancing International Arbitration

HKIAC is committed to developing links with other arbitral centres around the world and strongly believes that ties with the Government of The Bahamas offer the arbitral community an excellent way of advancing alternative dispute resolution best practices across the world. 

About HKIAC:

The Hong Kong International Arbitration Centre ("HKIAC") was established in 1985 to provide independent and efficient dispute resolution services specialising in arbitration, mediation, adjudication, and domain name dispute resolution. HKIAC, in addition to its headquarters and hearing centre in Hong Kong, also has offices in Seoul and Shanghai. HKIAC has one of the strongest arbitration caseloads in Asia and offers a number of unique advantages in China-related disputes.

About The Bahamas Ministry of Economic Affairs: 

The Bahamas Ministry of Economic Affairs is the entity in the Government of The Bahamas responsible for providing vision, strategic direction, policy, and information related to the movement of financial resources, economic diversification, and growth.  Its areas of responsibility include the development and promotion of The Bahamas as a centre for international commercial arbitration.  

Media Contact

HKIAC

Marnie Shaw

mshaw@hkiac.org

+852 2525 2381

Government of Bahamas, Ministry of Economic Affairs

Theominique D. Nottage, MCIArb

theominiquenottage@bahamas.gov.bs

+242 (328-5071/6)