Nigerian Institute of Chartered Arbitrators (NICArb) has partnered with China International Economic and Trade Arbitration Commission (CIETAC) to enhance the use of arbitration and Alternative Dispute Resolution (ADR) mechanisms in Nigeria.

The partnership is also aimed at fostering stronger economic and trade relations between Nigeria and China. At the signing ceremony which took place at the China-Africa International Arbitration Cooperation Conference/China-Africa Trade Export in Changsha, Hunan Province, China, NICArb President, Prof Fabian Ajogwu (SAN) who was represented by the Registrar and Chief Executive Officer, Mrs Shola Oshodi-John said the agreement marks a significant milestone in the collaboration between the two leading arbitration institutions.

According to him, the cooperation agreement is expected to pave the way for increased collaboration and knowledge sharing between NICArb and CIETAC, ultimately contributing to the advancement of arbitration and mediation practices in Nigeria and China.

“Under the terms of the agreement, NICArb and CIETAC will work together to promote arbitration and mediation as a preferred method of dispute resolution in international trade and investment.

“The cooperation will include the exchange of ideas, joint hosting of seminars, conferences, and training programmes to enhance the skills and knowledge of arbitrators in both countries. This agreement represents a significant step forward in our efforts to strengthen Nigeria’s arbitration and mediation frameworks and build closer ties with our counterparts in China.

“We are confident that this partnership will lead to more efficient and effective commercial dispute resolution, benefiting both countries’ businesses and investors,” Ajogwu said.

Vice Chairman of CIETAC, Mr. Wang Chengjie said: “We are delighted to partner with NICArb in this important initiative. By working together, we can leverage our collective expertise to promote arbitration and mediation as a reliable and efficient means of resolving disputes.

“This cooperation will undoubtedly contribute to the growth of economic and trade relations between China and Nigeria.”

Culled Guardian