18/06/2021
On 2 June 2021, a Memorandum of Understanding between ZhiZhong and Российский арбитражный центр / Российский Институт современного арбитража Russian Institute of Modern Arbitration was signed. The objective of this MoU is to share resources on alternative dispute resolution, support each other in entering international arbitration markets, work together to enhance arbitration activities, and joint actions to expand the scope of international commercial arbitration by using each other's influence.
Russia shares a border with China and is also an important Belt and Road Initiative country. China and Russia maintain close economic, trade and cultural ties and share a common need to improve the level of legal services, including the Alternative Dispute Resolution service.
The Russian Institute of Modern Arbitration (RIMA) is aimed at promoting and popularizing arbitration in Russia. It has a goal of increasing attractiveness of Russia as a place for business and dispute resolution. The RIMA regularly hosts conferences and workshops devoted to development of arbitration. The Russian Arbitration Center, administering arbitration of private law disputes, is founded at the Russian Institute of Modern Arbitration.
During the online event, Mr. Zhang Tianwei (Chief Executive Officer of the ZhiZhong) provided detailed information about ZhiZhong and stressed the need for bilateral cooperation.
Ms. Yulia Mullina (General Director of RIMA), provided detail information about RIMA and added “RIMA is in the process of rapid development and is actively exploring the possibilities of cooperation with international organizations. Cooperation with Zhizhong is an important step towards internationalization. The epidemic is not completely over yet, and the demand for internet arbitration and video court hearings is on the rise”.
Now with ZhiZhong’s vast network of ADR institutions and years of experiences for organizing ADR activities, RIMA and ZhiZhong can work together to stimulate the economic growth by offering more accessible and efficient dispute resolution method and promote regional and international commercial ADR activities.