Dubai – MENA Herald: As part of their efforts to promote commercial arbitration in settling trade disputes, and to exchange experiences and knowledge in the area of alternative dispute resolution, the Dubai International Arbitration Centre (DIAC) which is an initiative of Dubai Chamber of Commerce and Industry, in cooperation with the UAE Consulate in Shanghai organised an introductory session to highlight the benefits and services offered by the Centre to Chinese contracting parties, at the Pudong Shangri-La Hotel in Shanghai recently.
The meeting, attended by H.E. Ibrahim Almansouri, Consulate General of the United Arab Emirates in Shanghai, also included interested business owners, practicing lawyers, arbitrators, ADR
practitioners, experts and users, litigators, judges and academics, focused on the world-class arbitration services provided by the Centre in settling global trade disputes and
how Chinese contracting parties can benefit from these diverse services.
The DIAC delegation included Dr. Habib Al Mulla, Chairman Board of Trustees, DIAC, Prof. Dr Tarek Fouad Riad, Chairman of the DIAC Executive Committee, Prof. Phillip Capper, Partner and Head of International Arbitration at White & Case LLP in London, and Mr. Erik Schäfer, Partner of Cohausz & Florack, Germany.
In his welcome address during the meeting, Dr. Habib Al Mulla called upon the Chinese companies to make their base in Dubai to reach out to the lucrative markets of the region, adding that the emirate’s strategic location, its highly developed infrastructure, logistical and financial services make the city an ideal investment destination for global investors.
Dr. Al Mulla also stressed on the presence of a strong legal framework in the emirate which he said protects the rights and duties of overseas
companies as well as their FDIs as Dubai emphasises on adopting alternative means of arbitration in settling trade disputes.
On his part, Dr Tarek Riad highlighted the latest activities and development plans of DIAC while emphasising on its commitment in providing all the assistance and expertise to global Chinese contracting
companies and the Centre’s experience in promoting the use of alternative means of trade dispute as practised the world over.
He also said that DIAC is focusing on providing its services to the Chinese companies which are very active all over the world, therefore this visit to China is important in raising awareness and importance of arbitration as a fast and smooth means of settling trade disputes unlike the court proceedings which are long and tedious.
The Dubai International Arbitration Centre which was founded in 1994,
is an independent, non-profit organisation that aims to provide affordable arbitration and the settlement of commercial disputes for the business community. It seeks to provide a flexible and impartial mechanism in resolving and settling international disputes locally, regionally and internationally at competitive prices. The Centre provides the latest facilities to ensure the quality of arbitration services
alongside a team of international arbitrators who are familiar with the process of international arbitration.