On 6 September, Natalia Prisekina, a Partner at Pepeliaev Group and Head of the firm’s Far Eastern Office, spoke at the session “The Development of International Commercial Arbitration in the Asia-Pacific Region”, which was held for the fourth time as part of the Eastern Economic Forum.
The session was moderated by Sergey Katyrin, President of the Chamber of Commerce and Industry of the Russian Federation. He noted that arbitration institutions exist in virtually all countries, with the first in Russia being the Maritime Arbitration Commission (MAC) and the International Commercial Arbitration Court (ICAC) at the Chamber of Commerce and Industry of the Russian Federation. Both institutions have been operating continuously for nearly a century, with a network of 27 branches of the ICAC, including one in Vladivostok, being in place.
As a Partner at Pepeliaev Group and Executive Secretary of the ICAC’s Branch in Vladivostok, Natalia Prisekina highlighted extensive cooperation in the field of arbitration with institutions in Asian jurisdictions, and drew attention to common mistakes that parties’ representatives make when applying to the ICAC’s Branch in Vladivostok. She stressed that, in the context of cross-border transactions, arbitration has ceased to be merely an alternative and has become the preferred method of dispute resolution.
“Today, the geographical scope of arbitration clauses [a contractual or separate agreement that the parties enter into when concluding an international commercial contract — Ed.] handled by our branch already extends to a wide range of countries. We know that companies from these jurisdictions are including our clauses in their contracts with Russian partners. While we initially focused our efforts primarily on promoting arbitration and raising the awareness of business, in 2023 we observed a qualitative shift, and began to receive real cases. Four proceedings have already been successfully concluded, three of them being international commercial disputes.”
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