REMARKS AT THE LAUNCH OF THE AUSTRALIAN INTERNATIONAL DISPUTES CENTRE

Sydney

Wednesday, 3 March 2010

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First, may I acknowledge the traditional owners of the land we meet on – and pay my respects to their elders, both past and present.

I am pleased to be here to announce the creation of the new Australian International Disputes Centre.

The Centre is a partnership between the Commonwealth and New South Wales Governments, the Australian Commercial Disputes Centre, and the Australian Centre for International Commercial Arbitration.

My colleague, NSW Attorney-General John Hatzistergos, has shown great personal commitment to bring this project forward.

I would also like to recognise the drive that Professor Doug Jones AM as President of the Australian Centre for International Commercial Arbitration and his colleagues have demonstrated in bringing people on board.

The Australian International Disputes Centre will be equipped with state of the art dispute resolution facilities. Together with the depth of arbitration expertise and support services already here in Australia, the Centre will make Sydney a leading place to resolve international disputes.

This is an exciting development that puts Sydney – and Australia – at the forefront of international arbitration.

The establishment of the Australian International Disputes Centre is a key part of the wider agenda of arbitration reforms at both the Commonwealth and State levels.

At the Commonwealth level, through the International Arbitration Amendment Bill, the Government is seeking to increase the effectiveness, efficiency and affordability of international commercial arbitration. The Bill is expected to be debated in the next few weeks.

The Australian Government is also working closely with the States to draft a new model commercial arbitration bill based on the UNCITRAL Model Law. This project is being led by New South Wales.

Government have been driving reforms to Australia’s international arbitration regime for two fundamental reasons.

First, international arbitration is often the most effective way for businesses to resolve cross-border disputes. In short, I see a vibrant international arbitration culture as a vital tool for Australian business in the modern, global economy.

And second, promoting the international dispute resolution industry here in Australia benefits not only lawyers and arbitrators, but also the economy in general.

The value of the international arbitration industry is demonstrated by the success of the Hong Kong and Singapore Centres, which heard around 700 disputes between them in 2009, and are hearing more and more every year.

Both countries earn significant direct and flow on revenue from this activity.

These figures show both the potential for international arbitration here in Australia — and make clear that we need to lift our game to catch up.

My view is that we will succeed here in Australia only if we can promote a truly cutting-edge and internationalised model of arbitration.

That is why I am promoting an ‘Australian brand of arbitration’ – one that genuinely meets the needs of the parties. We need to do away with unnecessary formalities and get on with identifying and solving the real dispute in issue. And we need to ensure that arbitration delivers swift and cost-competitive outcomes.

This requires arbitrators and lawyers to leave old prejudices and methods behind – arbitration is not court without the wigs. It will also require Australia’s highly regarded courts to respect the fundamental nature of arbitration and provide appropriate support where required.

In short, the Australian brand of arbitration means we need to become known as the place to come when you want your problem fixed fast and fairly.

Through the new Australian International Disputes Centre I am confident that we can achieve this.

Thank you.