International commercial arbitration in the Asia-Pacific: Asian values, culture and context

For effective liberalisation of trade and investment in any region, the role of competent dispute settlement mechanisms is vital. Foreign investors' confidence in a host country can be ensured through such mechanisms. No doubt, where there is confidence, there is cooperation. If a foreign investor loses confidence in the host country's dispute settlement mechanisms, it is futile for the host country to expect cooperation in its economic development from such an investor. International commercial arbitration has proved to be very popular with the international business community.1 Its current role in the expansion of international trade cannot be denied. The third party dispute settlement mechanism, like international commercial arbitration, can make a very positive contribution to the enhancement of closer economic cooperation in the Asia Pacific region.