Managing Partner and Head of GRATA International China office, Gulnur Nurkeeva, gave an interview to Khabar 24 about the resolution of investment disputes with China
According to Gulnur Nurkeeva, an arbitrator of the AIFC International Arbitration Centre (IAC), court and arbitration proceedings involving Chinese companies are most often related to the late fulfillment of payment obligations, as well as disputes arising from construction projects.
If investors provide for the jurisdiction of, for example, the London Court of International Arbitration (LCIA), the Singapore International Arbitration Centre (SIAC), the Stockholm Arbitration Court (SCC), or other foreign arbitration institutions, the decisions of such international arbitration courts must be recognized by the state courts of Kazakhstan for enforcement within the territory of the Republic of Kazakhstan. This significantly complicates the enforcement process and prolongs the timeframe for such enforcement.
The main advantage of the Astana International Financial Centre (AIFC) Court and the International Arbitration Centre (IAC) is that investors gain access to justice administered by globally renowned judges and arbitrators, similar to those in the LCIA, SIAC, and SCC. However, IAC and AIFC Court decisions are enforceable without additional review or recognition procedures by the state courts of the Republic of Kazakhstan.
Since May 2024, under a signed agreement, AIFC Court and IAC hearings can be held in the China World business center, located in Beijing's commercial hub. This allows Chinese investors to participate in court and arbitration proceedings without leaving China.
Watch the news (in Kazakh):