Malaysia To Open Negotiations With AALCO To Rename KLRCA
KUALA LUMPUR – Malaysia will open negotiations with the Asian African Legal Consultative Organisation (AALCO) to rename the Kuala Lumpur Regional Centre for Arbitration (KLRCA) as the Asian International Arbitration Centre (Malaysia), says Minister in the Prime Minister’s Department Datuk Seri Azalina Othman Said.
She said a pro-tem committee would be set up to lead this initiative and this would be followed by amendment to the necessary acts, including the Arbitration Act 2005 (as revised in 2011) to include more current and international changes to make Malaysia an international hub for Alternative Dispute Resolution (ADR).
“With these ambitious projects in the coming years, I am certain the KLRCA and Malaysia will soon become a global hub for ADR in the world,” she said in her speech at the Kuala Lumpur International ADR Week (KLIAW 2017) here today.
The Centre has come a long way since its inception in 1978, overcoming challenges throughout the past three decades, right up to its resurgence in the more recent years.
Azalina said this initiative, along with many other initiatives were to ensure Malaysia was in the forefront of the ‘One Belt One Road’ Initiative.
“In the coming months, I am certain with his (Prime Minister Datuk Seri Najib Tun Razak) leadership and the efforts of the KLRCA, Malaysia will play a central role in ADR under the Belt Road Initiative.
“As rightly stated by the prime minister; ‘One Belt One Road’ is a game change for the region’ and it is only fitting that this be reflected in the theme of the conference today,” she added.
China unveiled its ‘One Belt One Road’ initiative in 2013 as a development strategy that focuses on connectivity and cooperation among various countries.
Meanwhile, the three-day conference which begins today is made up of 10 sessions, nine breakout sessions and six social events, with discussions including on ‘Breaking down the One Belt, One Road’ What lies ahead for ADR’. – BERNAMA