The Lusaka International Arbitration Centre, (LIAC) and the China-Africa Business Council have signed a Memorandum of Understanding (MoU) meant to establish the Zambia Branch of the China-Aftica International Commercial Mediation Centre.
The MoU signing ceremony which was held in Lusaka today, marks a significant milestone in strengthening commercial and legal infrastructure.
LIAC Chairperson, Chabuka Kawesha, stated that this transformative partnership will position Zambia as the definitive legal and commercial infrastructure hub for the Africa-China economic Corridor
The media reports that Mr Kawesha further noted that the MoU will integrate commercial mediation into service offering, citing that LIAC is providing investors with faster and flexible ways of dispute resolution.
And Vice Chairperson of China-Africa Business Council who is also the President of Shandong Zhonggyang Industry Group, Hao Aijun, noted that the collaboration will promote bilateral trade, investment and economic cooperation between Chinese and African enterprises.
Ms Aijun expressed that the collaboration serves as a key bridge that will facilitate dialogue and cooperation across key sectors, adding that this will enhance mutually beneficial development.
In his vote of thanks, LIAC Vice Chairperson, Lungisani Zulu, thanked the China-Africa Business Council for the hard work throughout the process of establishing the MoU.
Mr Zulu underscored the two parties’ collaboration as a huge development in the relationship of Zambia and the Chinese, noting that through the MoU, solutions will be generated to drive various social needs where revenue is generated between the two organisations.
