Muscat - The importance and development of arbitration as an alternative dispute-resolution mechanism in Oman was stressed at a conference organised by the International Chamber of Commerce (ICC) on Monday.
The conference, held in co-operation with the Mohammed Ibrahim Law Firm (MILF), on 'Recent Developments in International Arbitration and the Status of Arbitration in Oman' was held under the patronage of H E Dr Ali al Sunaidy, Minister of Commerce and Industry.
Speaking to reporters on the sidelines of the conference, Andrea Carlevaris, secretary general of the ICC International Court of Arbitration, said the ICC has seen a 20 per cent rise in the number of parties from the Gulf and Middle East region filing cases.
He said, "This region is probably the only region in the world where we have seen a steady growth in the number of cases at ICC in the last 10-15 years and it continues to grow."
Carlevaris said that in Oman, there is still scope for developing awareness about alternative dispute-resolution mechanisms. "There are lots of infrastructure projects being implemented
in Oman and it is important for foreign investors in Oman to be able to rely on systems for resolving disputes alternative to the local court. It is important for and in interest of Oman as well as businesses to create an arbitration capacity locally, because otherwise disputes may be attracted to courts or arbitrations outside Oman and the region in the countries of foreign investors."
"It is important to develop awareness locally, and to create a good pool of potential arbitrators or mediators. I think Oman has everything, be it good infrastructure, large projects and excellent lawyers. So there is no reason why arbitration should not be developed in the next few years," added Carlevaris.
He added that in 2013, five parties from Oman, involved in infrastructure and construction activity, filed cases with the International Court of Arbitration.
"Arbitration is a very powerful means of attracting investments into the country. In fact, investors come to Oman mainly for economic reasons, but they also seek legal security. Arbitration helps the private sector resolve disputes faster and at lower costs," Carlevaris said.
In his opening remarks, Dr Mohammed Ibrahim al Zadjali, chairman of MILF, said his firm has the responsibility to contribute to the development of arbitration in Oman, and this is within the professional purview of the firm.
© Muscat Daily 2014
