The AIFC Court and International Arbitration Centre (IAC) launched ‘AIFC Court & IAC Beijing’ at new world-class premises in Beijing, China
On 27 May 2024, the AIFC Court and International Arbitration Centre (IAC) launched ‘AIFC Court & IAC Beijing’ at new world-class premises in Beijing, China. Since the AIFC Court and IAC commenced operations on 1 January 2018, more than 2,600 cases have been completed and enforced to 100% satisfaction of the parties in dispute. The cases have involved a wide variety of commercial dispute matters with investors from 28 countries. 20 cases have involved Chinese investors with business in Kazakhstan. This trend is expected to continue with more than 10,000 business contracts providing the AIFC Court and IAC for dispute resolution. A significant proportion of those contracts facilitate high value Chinese investment in Kazakhstan.
‘AIFC Court and IAC Beijing’ is based at the Executive Centre in the prestigious China World Tower in Beijing and provides modern meeting and hearing rooms, administrative support, and digital technology. The objective is to maximise the convenience for Chinese investors in Kazakhstan with AIFC Court and IAC dispute resolution provided in the comfort of their home country.
The ‘AIFC Court and IAC Beijing’ launch was the culmination of a visit to China by Mr. Christopher Campbell-Holt, the Registrar and Chief Executive of the AIFC Court and IAC, who also participated at the China Overseas Development Association (CODA) conference that was attended by more than 20,000 business representatives from more than 110 countries.
Mr. Campbell-Holt held meetings with dispute resolution partners, senior lawyers, and business people who have or expect to have business in Kazakhstan. Cooperation was agreed with CODA to further enhance the AIFC Court and IAC standing in China as the preferred dispute resolution institutions in Eurasia for Chinese investors in Kazakhstan.
Mr. Campbell-Holt commented:
“We are delighted to have launched ‘AIFC Court & IAC Beijing’ at new international standard premises in China to supplement the important work that is being done to support increasing investment from Chinese businesses in Kazakhstan. Chinese investors have used the AIFC Court and IAC to protect their legal rights in numerous cases. Our latest initiative in Beijing will provide further comfort to those investors, and future Chinese investors, that they can access independent, timely and cost effective dispute resolution via the AIFC Court and IAC facilities and services in their own country.”
The AIFC Court and IAC have international standard premises and digital technology in Astana and Almaty in Kazakhstan, and in the following eight countries in Eurasia, meeting the needs of investors with business in Kazakhstan: Azerbaijan, Armenia, Georgia, Kyrgyzstan, Tajikistan, Turkey, Turkmenistan, and Uzbekistan. They have been recognised by global investors as the preferred international dispute resolution institutions for commercial disputes in Eurasia and compete with the very best international courts and centres as “deal breakers” for final investment decisions in Kazakhstan.
References:
The AIFC Court is an independent legal entity. It has its own procedural rules modelled on English common law procedures and leading international practice. The AIFC Court is separate and independent from the courts of the Republic of Kazakhstan. It consists of two tiers: a Court of First Instance, which includes a specialist division known as the Small Claims Court; and a Court of Appeal. It has exclusive jurisdiction over disputes arising out of the activities and operations of the AIFC and jurisdiction in the case of other disputes in which all parties agree in writing to give the AIFC Court jurisdiction. It does not have jurisdiction in relation to disputes that are of a criminal or administrative nature. It applies the most up to date and efficient case management practices. https://court.aifc.kz/
The International Arbitration Centre (IAC) is an independent legal entity. It has its own procedural rules modelled on best international practice. It has its own panel of leading international arbitrators and mediators having many years of arbitration and mediation experience in commercial law, including oil and gas, trade, construction, energy, financial services, banking, Islamic finance, insurance, and intellectual property. IAC arbitration awards are recognised and enforceable in Kazakhstan and internationally. https://iac.aifc.kz/
The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus. www.aifc.kz
