Sydney promoted as Asia Pacific location for international arbitration
22 August 2011
Sydney's future as a centre for international arbitration was promoted on 18 August when the Department of Trade and Investment hosted an Asia Pacific seminar on the subject.
The International Chamber of Commerce (ICC) seminar "International Arbitration in Australia and Beyond" attracted practitioners and leaders in the field from across the country.
The International Chamber of Commerce and its arbitration body, the International Court of Arbitration, is a world leading organisation for the resolution of international business disputes.
The Sydney seminar brought together leading players in the field of international arbitration to focus on developments in Australia and the Asia Pacific, including what Australia needs to do to progress as a seat of arbitration in the region.
Australia and Sydney offer an attractive location for arbitration services in the Asia Pacific given our stable, supportive and trusted legal system; competitive costs; and international neutrality.
The Department of Trade and Investment is committed to promoting Sydney as a leading business and professional services hub for the Asia Pacific region, including in international dispute resolution.
International commercial arbitration has become a lucrative business with the spread of globalisation and cross border business, and can offer a faster and less expensive option for settling complex international disputes than litigation in the courts.
The Australian International Disputes Centre has been established in Sydney with the support of the NSW and Commonwealth governments to provide a world-class dispute resolution venue.
The Australian International Disputes Centre houses leading dispute resolution providers including the Australian Centre for International Commercial Arbitration; the Chartered Institute of Arbitrators (Australia) Limited; the Australian Maritime and Transport Arbitration Commission; and the Australian Commercial Disputes Centre.