Monday 15, February 2016

Dubai – MENA Herald: The Dubai International Arbitration Centre (DIAC), an initiative of Dubai Chamber of Commerce and Industry, received a high-level Kazakhstan delegation headed by H.E. Berik Imashev, Kazakhstan Minister of Justice to strengthen relations in the field of settlement of trade disputes during a meeting held recently in Dubai.

The visiting delegation was received by Dr. Habib Al Mulla, Chairman Board of Trustees, DIAC, who expressed his delight in welcoming the delegation while stressing upon the Centre’s commitment to provide all the assistance and expertise to the Kazakh counterparts as it is well-experienced to promote the use of alternative means of trade dispute as practised the world over.

Dr. Al Mulla apprised the visitors with the latest activities and development plans of DIAC including the Centre’s ongoing discussions for the launch of an Islamic Arbitration window as well as the Dubai Arbitration Award, which is an add-on for commercial arbitration in the world.

On his part, H.E. Berik Imashev, Kazakhstan Minister of Justice lauded Dubai’s achievements in the recent past and its role as a centre of alternative dispute resolution which he said will help in strengthening cooperation ties in the area of commercial arbitration while sharing of best practices to serve the common objectives of the two sides.

He added that this meeting provided a learning experience which can be transferred to Kazakhstan and can be used in the development of the Astana International Financial Centre as he also expressed his country’s desire to benefit from the experience and expertise of the Dubai International Arbitration Centre in the area of commercial arbitration which can be transferred to Kazakhstan.

The Kazakh delegation visit came in the framework of exchanging of experiences and know-how with the Dubai International Arbitration Centre, which is one of the world’s leading centres for commercial arbitration and has, since its inception, been promoting the importance of arbitration in stimulating the business environment of Dubai and the region.

Created in 1994 as the “Centre for Commercial Conciliation and Arbitration”, the Dubai International Arbitration Centre is an autonomous, permanent, non-profit institution that provides the regional and international business communities a high calibre of arbitration services and facilities at an affordable price.

Through DIAC’s associate membership, members could enhance their knowledge and experience international commercial arbitration by participating in seminars, training workshops and international conferences. The services offered include the overseeing of arbitral proceedings and commercial disputes, appointing arbitrators, choosing the venue for the arbitration and fixing the fees of arbitrators and mediators.