Commercial mediation important for solution of Sino-US economic disputes (China View)
July 16, 2006
Sat, Jul 16, 2005
BEIJING, July 15 (Xinhuanet, Chen Gang) -- Commercial mediation, as an alternative to litigation and arbitration, has become important for Chinese and US entrepreneurs to solve their economic disputes, some experts said at a seminar here Friday.
At the China-US Commercial Mediation Congress, jointly held by the China Council for the Promotion of International Trade (CCPIT)and the US International Institute for Conflict Prevention and Resolution, over 200 Chinese and US delegates from commercial and jurisprudence circles discussed the importance of commercial mediation as an efficient and time-saving solution to commercial disputes.
With the rapid development of Sino-US trade and US direct investment in China, the economic disputes between the two countries are also increasing, said CCPIT President Wan Jifei at the meeting.
"If these disputes cannot be resolved properly, the Sino-US trade partnership will be harmed," Wan said.
Commercial mediation, advocating direct dialogues and consultations between disputers, is an effective way for entrepreneurs to save time and cost, he said.
Commercial mediation originated in ancient China over 2000 years ago and is a much more recent phenomenon in the United States and Europe, said Thomas Stipano wich, president of the US International Institute for Conflict Prevention and Resolution.
Mediation helps disputers look at the problem from the other's perspective, he said.
China has signed cooperative agreements on joint commercial mediation with many other countries such as Germany, the United States, Britain, Sweden, the Republic of Korea, Canada and Japan, said Yang Huazhong, secretary-general of the US-China Business Mediation Center, which was jointly established by the two countries in 2004.
The US-China Business Mediation Center has formulated unified mediation rules according to the different cultural characteristics of the two countries, and invited some Chinese and US renowned experts as mediators and consultants at the center, Yang said.
Although the two governments can solve their trade disputes through the World Trade Organization dispute settlement mechanism, it is more suitable for ordinary enterprises to solve their specific disputes using commercial mediation, he said. Enditem
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