MoU to facilitate collaboration and knowledge sharing on arbitration, conciliation and mediation
Dubai International Arbitration Centre (DIAC), an initiative of Dubai Chamber of Commerce and Industry, today signed a Memorandum of Understanding (MoU) with Emirates Maritime Arbitration Centre (EMAC) to facilitate knowledge sharing and cooperation on resolving commercial disputes in the UAE and abroad.
Under the terms of the MoU, DIAC and EMAC will cooperate to host and lead workshops, seminars, conferences, presentations and educational activities focusing on arbitration, conciliation, mediation and dispute resolution in general.
DIAC and EMAC will assist each other in identifying suitable arbitrators, conciliators and mediators who can provide their expertise in resolving disputes received by the two centres. In addition, the two centres will exchange information and publications on various dispute matters whenever possible, while the agreement also aims to facilitate coordination in representing UAE-based arbitration centres internationally.
Dr. Habib Al Mulla, Chairman of the Board of Trustees of DIAC, said the signing of the MoU is a step in the right direction for enhancing the efficiency of dispute resolution services provided to the UAE’s business community, adding that this process remains a convenient alternative to traditional court cases.
DIAC’s Chairman of the Board of Trustees added: "Our partnership with the Emirates Maritime Arbitration Centre will strengthen the legal landscape in the UAE, and help us combine our efforts in promoting alternative dispute resolution in an effort to better serve the private sector. The MoU will help us keep pace with the changing needs of the local business community, enabling us to improve our overall competitiveness.”
For his part, Mr. Majid Obaid bin Bashir, Vice Chairman and Secretary General, EMAC, said: “We are honoured to partner with Dubai International Arbitration Centre (DIAC) and look forward to harnessing the mutual benefits of this collaboration for our members with a focus on raising awareness together.”
EMAC’s Vice Chairman and Secretary General added that “both EMAC and DIAC share the same goal of offering an international level of arbitration, mediation and alternative dispute resolution services, which are faster, more efficient and more cost effective for the parties involved.”
Since its establishment, DIAC has succeeded in providing regional and international business communities with a high calibre of arbitration services and facilities at an affordable price. The Centre, founded in 1994 as the Commercial Conciliation and Arbitration Centre, is an autonomous, permanent, non-profit institution based at the Dubai Chamber of Commerce and Industry.
Launched in 2016, EMAC, was established to support the UAE’s growing maritime industry. A non-profit organisation with financial and administrative independence, it offers a regional platform that provides services with full transparency and impartiality. Through arbitration and alternative forms of dispute resolution, EMAC settles a wide range of maritime disputes efficiently and effectively.
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