Aiming to strengthen the relations and to develop the mutual cooperation in the field of commercial arbitration, the Piraeus Association for Maritime Arbitration and the Shanghai Arbitration Commission agreed to implement the provisions according to a signed protocol during their recent meeting at the Piraeus Marine Club.
The increasing business transactions between Greece and China, mainly following the successful presence of COSCO, were important parameters in the discussions. Through its subsidiary Piraeus Container Terminal (PTC) the target is to handle approximately 3.7m TEUs this year.
Also the numerous new building orders placed by Greek interests at the Chinese shipyards underline the necessity to define a practical framework of relations between the parties and establish ways to support cooperation in order to achieve common objectives.
The Parties will regularly exchange information on arbitration issues and practices in both Greece and the People’s Republic of China with a view to promoting arbitration as a means of settlement to all disputes arising between the business sector establishments in both Greece and the People’s Republic of China.
Both parties shall encourage the business sector establishments in their territories to incorporate an arbitration clause in their agreements and contracts and shall exert their best efforts to assist in making arbitration awards issued by the other party enforceable in their territories.
The visiting delegation headed by Mr Xu Qiang, Chairman of the Shanghai Arbitration Commission, Mr Lu Chunwei Deputy secretary General Shanghai Arbitration Commission, Wang Yongjian Deputy Inspector General Office of Shanghai Municipal People’s Government, Mr Xu Qingsheng Division Chief Research Office of Shanghai Municipal People’s Government, Ms Guan Lijuan Chief The Legislative Affairs Office of Shanghai Municipal People’s Government Deputy Division and Ms Jiang Ying Shanghai had the opportunity to exchange information and views with the Members of the Piraeus Association for Maritime Arbitration BoD (www.mararbpiraeus.eu) Mr Antony Tsavdaridis, Mrs Jenny Pournara and Mrs Mary Pothitou.
The President of the Hellenic Marine Technical Consultants Association (www.marineconsultants.gr) and member of PAMA BoD Mr Dimitris Capaitzis, briefed the Chinese delegation about the important role that the HMTCA members could successfully perform by providing expert representation of the Greek and foreign shipping communities in their relationships with shipyards, insurers, financial institutions, classification societies, national and international authorities, maritime courts and arbitrations.
