The agreement was signed by Alexander Shokhin, the President of the RSPP, on one hand, and Sarah Grimmer, the Secretary-General of HKIAC, on the other hand. In the signing ceremony also participated Alexander Varvarin, Vice - President for Legal Regulation and Law Enforcement of the RSPP, Alexander Zamaziy, the Managing Director - Chief of Staff at the Arbitration Centre at the RSPP, and Denis Mikshis, Director for International Cooperation of the Arbitration Centre at the RSPP, Dmitry Dyakin, Deputy Chairman of the Presidium of the Arbitration Centre at the RSPP, Partner of the law firm Egorov Puginsky Afanasyev and Partners, Igor Vdovin, Vice-President of the RSPP, Member of the Board of the RSPP, and Viktoria Khandrimailo, Deputy Counsel of the HKIAC and other invited guests and experts.

The cooperation agreement reflects the desire of the parties to create favorable conditions for the development of arbitration as an instrument ensuring stability in business relations. The parties agreed to assist each other in promoting arbitration as a means of resolving civil-law disputes, as well as holding joint conferences, lectures, round-tables and other events on issues related to the development, improvement and popularization of arbitration. The agreement also provides for mutual assistance in arbitration matters regulated by national legislation as well as organizational and technical assistance, including room facilities for conducting hearings and videoconference.

HKIAC was established in 1985 as an independent non-profit organization. HKIAC resolved over 10,000 disputes between companies from 40 different countries. HKIAC became the first arbitral institution in Russia to be included by The Ministry of Justice of the Russian Federation in the list of foreign arbitral institutions. HKIAC offices are located in Hong Kong, Seoul and Shanghai.

The Arbitration Center at the RSPP is a permanent arbitral institution created in accordance with the Federal Law “On Arbitration in the Russian Federation”. The Arbitration Centre is the successor of the Arbitration court at RSPP (established in 2006), the Arbitration court of the National Association of Securities Market Participants (NAUFOR) (established in 1997) and the Arbitration commission at PJSC “Moscow Stock Exchange” (established in 1994). The Arbitration Centre resolved about 1,800 cases. Apart from the headquarters located in Moscow, the Arbitration Centre at the RSPP has 10 regional branches, and offices placed in 17 cities, including Kazan, Novosibirsk, St. Petersburg, Sochi, Vladivostok and Yekaterinburg.

The signature of the Agreement was another step in the framework of the strategy of the Arbitration Centre at the RSPP to expand and strengthen cooperation with leading international arbitration centres and reflects the desire of the RSPP to develop a culture of dispute resolution through non-state mechanisms.