The signing ceremony, which was held online, was attended by management, leading employees and arbitrators of both arbitration institutions.
Guangzhou Arbitration Commission (GAC) was established in 1995. GAC is a well-known leader in online dispute resolution services, conducting thousands of cases remotely.
During the meeting, the parties shared their views on the latest trends of arbitration in the Russian Federation and in the People's Republic of China. Representatives of the arbitration institutions also answered each other's questions.
The Memorandum of Understanding expresses the parties' intention to promote arbitration in the context of developing Russian-Chinese economic relations. The agreement provides for mutual assistance in the administration of cases. It also pays special attention to the development of online arbitration and technical assistance in the organization of online dispute resolution.