Now might be a good time for lawyers interested in broadening their horizons to get into arbitration work following the announcement by Hong Kong’s secretary for justice, Wong Yan Lung, and China’s vice chairman of the China Council for the Promotion of International Trade that the two countries have signed a bilateral cooperation agreement on legal services for commercial matters in arbitration.

The changes under the agreement will facilitate better training by enterprises, and cooperation and exchange between the legal departments of both jurisdictions, resulting in better outcomes for lawyers and their clients. Justin D’Agostino, partner at Herbert Smith, said: “From an arbitration perspective, the arrangement is excellent news for clients looking to resolve their disputes in this region, and represents a bonus for both Chinese and foreign parties doing business here.”

The agreement has been met with enthusiasm by firms in the area who specialise in international arbitration and the arrangement is timely, given Hong Kong’s status as a well established centre for arbitration work. Glenn Haley, partner at Haley & Co, the Hong Kong partner in international arbitration for Clayton Utz, said the agreement will further enhance Hong Kong’s appeal as the ideal venue to resolve disputes over mainland transactions.

Lawyers will not need to re-qualify to represent parties to a dispute locally and only need to satisfy the usual law society requirements.