Dubai, UAE: Dubai International Arbitration Centre(DIAC), an initiative of Dubai Chamber of Commerce and Industry, discussed recently the bilateral arbitration relations with a Chinese visiting delegation representing the China International Economic & Trade Arbitration Commission ( CIETAC) working under The China Council for the Promotion of International Trade.
Dr. Hussam Talhuni, Director, DIAC received the visiting delegation headed by Yang Chunlei, Deputy Secretary General as the two sides explored ways to enhance relations and exchanged ideas and expertise that assist both centres in achieving their objectives.
Talhuni highlighted the various services provided by DIAC which indeed contributed to DIAC's current status as a pioneering International Arbitration Centre. The Director of DIAC discussed the possibility of Arab Arbitrators joining CIETAC, pointing out that DIAC has more than 900 international and qualified arbitrators.
"DIAC is fully committed to providing value added services to the business community as the Centre launched recently new e-services which included membership directory, e-library and a chat networking services. These services are part of our commitment to promote commercial arbitration as an effective tool for settling commercial disputes", Talhuni added.
On his part, Yang Chunlei praised the economic development of Dubai and the fast development of DIAC in a short period. Chunlie added that the high international reputation of DIA was one of the reasons behind CIETAC initiative to visit Dubai and work with DIAC to enhance the mutual relations.
Created in 1994 as the "Centre for Commercial Conciliation and Arbitration", the Dubai International Arbitration Centre (DIAC) is an autonomous, non-profit institution. As a professional specialist, the Center seeks to provide a flexible and impartial mechanism in resolving and settling international disputes. It oversees the procedures of arbitration in commercial disputes, appointment of arbitrators, fixing the place of arbitration and the arbitrators' fees.
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Established in 1965, the Dubai Chamber of Commerce & Industry is a non-profit public entity, whose mission is to represent, support and protect the interests of the business community in Dubai by creating a favorable business environment, supporting the development of business, and by promoting Dubai as an international business hub.
© Press Release 2010
