Overview

The Asia arbitration market is experiencing a boom. The economies of most Asian states have been resilient to the financial crisis. Intra Asian trade is on the rise, meaning an increase in transactions in the region.

Arbitration is usually the preferred mechanism for resolving cross border disputes, due to the ease of enforceability of an award under the New York Convention. Although bilateral reciprocal enforcement treaties for the enforcement of court judgments exist, these are relatively limited. Arbitration is also attractive due to its neutrality, flexibility and, generally, finality and confidentiality.

In this article, Baker & McKenzie outline why a growing number of Asian parties are specifying arbitration seats in Asia. Additionally, commentary and analysis is given on the following areas:

• The new Hong Kong Arbitration Ordinance


• Hong Kong courts arbitration friendly


• Australia International Arbitration Amendment Act 2010


• Vietnam Law on Commercial Arbitration

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