Bali Slated to Host International Conference on Arbitration
Thursday, August, 11, 2016
Bali will be the site of the 2016 conference for the Asia-Pacific Regional Arbitration Group this October. The conference is hosted by the Indonesian National Board of Arbitration and it will be the first time the group conference occurs in Indonesia. The group is a regional federation of arbitration associations whose goal it is to improve standards and knowledge of international arbitration practices. It will also make submissions on behalf of the region to national and international groups.
There are currently 41 member organizations in the group, all of which provide services for dispute resolution through arbitration. It was established in 1977 and serves as the only APRAG member representing Indonesia.
The theme of this year’s conference is “The Rise of International Arbitration and Development of Investment Treaty Arbitration: The Asian Response.” It will address issues including diversity and unification of arbitration in Asia, third-party funding, investment arbitration, investment costs and commercial arbitration, and how to harmonize commercial and investment arbitration within the ASEAN Economic Community.
Commercial arbitration is popular because it is predictable, private, and flexible. It also offers a less formal and less expensive option for resolving disputes between countries, and other entities. However, the recent increase in arbitration is attributed to a rapid expansion of trade and the free marketing policies influenced by non-state actors. The decision to use arbitration can be made after the dispute arises or as part of the original contract. The process also gives disputing parties the right to determine laws used in the process or to leave that decision up to the arbitrator.