COMPARATIVE RESEARCH ON THE ARBITRATION MECHANISMS BETWEEN CHINA AND KAZAKHSTAN

2023

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DOI 10.52026/2788-5291_2023_72_1_177
Data confidence 70 medium
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Abstract

With the implementation and development of the Belt and Road Initiative, the economic and trade exchanges between Kazakhstan and China are increasingly close, and the emergence of disputes is inevitable. As an Alternative Dispute Resolution (ADR), arbitration is an important form of solving civil and commercial economic disputes, and has been adopted by most countries and regions in the world. Relying on the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the New York Convention), arbitration has become the main means of dispute resolution in international commercial activities. Kazakhstan and China are also in the process of improving their domestic legal regimes in relation to arbitration in order to be in line with international legislation and practice. The exchange and cooperation between the two countries in the eld of arbitration will help provide investors with an e cient and convenient dispute resolution path, thus removing obstacles to closer economic and trade contacts. By comparing and analyzing the arbitration mechanism between China and Kazakhstan, this research is to nd the possible ways in which China and Kazakhstan connect and cooperate on the arbitration mechanism and to provide practical advices for investors from both sides when they choose arbitration to resolve their disputes. Through research, it is found that the arbitration mechanism between the two countries is insu cient, and the ADR mechanism including arbitration is underutilized. The practical signi cance of the research is to improve the acceptance and utilization of arbitration in disputes between the two countries