BCCCI, BIAC sign MoU to resolve trade disputes

Bangladesh China Chamber of Commerce and Industry (BCCCI) and Bangladesh International Arbitration Centre (BIAC) signed a memorandum of understanding (MoU) at BIAC Secretariat in Dhaka on Wednesday.

BCCCI acting secretary general Al Mamun Mridha and BIAC Chief Executive Officer Kaiser Ahmed Chowdhury inked the MoU on behalf of their respective organisations at a simple ceremony, a press release said.

Under the terms of the MoU, BCCCI will recommend BIAC as a forum for arbitration and mediation to its members for resolving any dispute arising out of trade, commerce and investment made in Bangladesh and/or in China as well as contractual and other related matters.

BIAC, under its own Rules of Arbitration and Mediation, will assist in the resolution of commercial disputes outside the courts.

Moreover, members of BCCCI would be in a position to avail the benefit of International Standard ADR mechanisms through BIAC, read the release.

Further, the MoU will enable the parties to exchange information and publications of mutual interest in the field of ADR and organise seminars, webinars, conferences, awareness and training programmes on mediation, arbitration and other methods of ADR.

BCCCI Senior Vice-President ATM Azizul Akil David, Director Meherun Nessa Islam, Office Secretary Md Abu Taher and BIAC General Manager Mahbuba Rahman, Assistant Counsel Priyanka Roy, and intern Khushnuma Khan were also present in the signing ceremony.