SA enters global arbitration stage

global arbitrationBy TINTSWALO BALOYI
JOHANNESBURG, (CAJ News) – THE Arbitration Foundation of Southern Africa (AFSA) has announced the creation of the China-Africa Joint Arbitration Centre (CAJAC) which is poised to establish South Africa on the international arbitration stage.

The CAJAC is supported by the China Law Society and the Beijing Consensus signatories and will be the authorised China – Africa Arbitration and Mediation Institute. The Beijing consensus is a document signed by a wide range of Chinese -trade commissions, arbitral bodies and universities, as well as delegates from Africa, which identifies the pressing need to establish a China-Africa Dispute Resolution mechanism in support of mutual trade and investment.

The China Law Society will be visiting Johannesburg in August to monitor progress in setting up the China-Africa Arbitration Centre.

At a meeting with SA stakeholders on Monday, the Beijing Consensus document was supplemented by the signature of a similar Johannesburg Consensus by all stakeholders in the initiative.

Des Williams, head of Werksmans Attorneys’ Arbitration Practice Group,said, “Werksmans Attorneys is a founding member of the Arbitration Foundation of Southern Africa and we are proud to be one of the signatories to the Johannesburg Consensus today.”

Williams added, “There have been lengthy and frustrating delays in the establishment of South Africa as an important regional arbitration centre. The establishment of the CAJAC is a major step in the right direction.”

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Posted by on Aug 18 2015. Filed under Africa & World, Featured, Finance, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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