Dubai International Arbitration Center (DIAC) at Dubai Chamber of Commerce & Industry organized a luncheon at Sheraton Creek Hotel in Dubai to mark the first meeting of the associate members of (DIAC) who joined the center in April last year.
The Chamber's and DIAC's organization of the event goes in line with Dubai Chamber's mission that aims at protecting the interests of Dubai business community and helping widen the scope of its members' businesses with their international partners, in addition to providing them with best services and facilities that help flourish their business. The meeting started with a speech conducted by HE Eng. Hamad Buamim, Director General of Dubai Chamber, who enjoys an honorary associate membership of DIAC. The meeting was also attended by Dr. Hussam Al Talhuni, Director of DIAC, and a large number of the center's associate members and Board of Trustees.
Buamim welcomed the attendees stressing the importance of this gathering in enhancing the goals of DIAC and its integrated cooperation with Dubai Chamber which provides its members and the business community in Dubai an opportunity to learn about the latest information on the world economy, in addition to introducing them to the effective means of solving disputes between commercial parties, going in line with the Chamber's key role in enhancing the competitiveness of businessmen to develop their activities and performance.
He highlighted the importance of international arbitration praising the joining of the UAE to the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards: "The New York Convention", which helped in developing and activating commercial arbitration in the country.
"International arbitration is an effective method for resolving disputes between parties involved in international commercial agreements. The practice of international arbitration has developed to allow parties from different legal and cultural backgrounds to resolve their disputes without the formalities of their underlying legal systems," said Buamim.
He pointed out that DIAC plays an integrated role with Dubai Chamber in the sense of providing all kinds of facilities that guarantee business continuity
and development through improving the means of commercial arbitration and enhancing its legal awareness locally and globally. DIAC now enjoys a wide network of renowned and experienced arbitrators.
Dr. Hussam Al Talhuni, Director of DIAC, delivered a presentation about the associate membership program of DIAC which provides a chance to achieve mutual goals of the center and its associate members. Through its members, DIAC will be promoting alternative means of commercial disputes resolutions and developing the regulatory principles of arbitration and serving all economic sectors regionally and globally.
"DIAC created elite members from different commercial, professional and industrial backgrounds willing to widen their business relations and enhance their expertise in commercial disputes resolution. The center provides an appropriate business environment the goes with the economic growth in the region through resolving commercial disputes easily and cost-effectively to help businesses continue developing," said Dr. Al Talhuni.
He added "Through joining DIAC's associate membership, members could enhance their knowledge and experience in international commercial arbitration through having them participated in seminars and training workshops and international conferences. This helps them learn about the latest developments of arbitration and the benefits they could get by being associate members of DIAC."
Dr. Al Talhuni said that DIAC's website www.diac.ae includes significant information on international arbitration, and a special link for the associate members. It was supplied with an electronic library to help members learn about the new regulations of commercial arbitration.
The gathering was also attended by Ahmed Saif Belhasa, Board Member of Dubai Chamber, Abdulwahed Al Rustamani, Chairman of Abdulwahed Al Rustamani Holding Company, Mohamed Saleh Al Saleh, Director of Experience and Disputes Resolution at the Ruler's Diwan, Mohamed Al Mansouri, Head of the UAE Jurists Association, Majid Basheer, Director of Dubai Real Estate Group, Ziad Kaldari, Chairman of Kaldari and Associates, in addition to a number of DIAC Board of Trustees including Dr. Nael Al Bunni, Head of the Executive Committee of DIAC, Dr. Haef Al Owais, Dr. Al Khalil Al Hadeethi and others.
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© Press Release 2008
