Regionalism: Is it Essential to the Advancement of International Arbitration in ASEAN?

Abstract

Over last two decades, we were witnessing the marked increase of trade and investment in Asia, especially intra-ASEAN and between China-ASEAN, inducing the establishment of many international arbitral institutions and promulgation of arbitration laws in the Member States. In which, Singapore International Arbitration Center has become the most preferred arbitration seat in the region. In despite of the fact that the establishment of a regional arbitration center, and the harmonization of mechanism of recognition and execution of foreign judgements and arbitral awards had been discussed, it is unlikely that both two subjects would be considered and realized in near future due to the state immunity and differences in politics and jurisdictions of the Member States. This paper shall investigate the necessity and alternative construction of the regionalism in international arbitration which may facilitate the commercial and investment disputes settlement in ASEAN by analyzing their current context and potential processes. This examination shall also reveal the impacts of the capital flows from China’s Belt and Road Initiative, European Union countries and the competition amongst the different other mechanisms of international disputes settlement on the advancement of the international arbitration in our region.