AMMAN – HE Dr. Talal Abu-Ghazaleh, founder and chairman of Talal Abu-Ghazaleh Global (TAG.Global), has participated as a keynote speaker at the first Cairo International Conference on the ‘Role of Mediation and Arbitration in Dispute Settlement and Achieving Sustainable Development’, under the patronage of the International Meditation & Arbitration Center (IMAC), held with the presence of a host of  high-ranking personalities, as well as elite of experts, speakers of parliaments, secretary generals of political parties and other related committees.

 Dr. Abu-Ghazaleh participated in this important conference in his capacity as a renowned global economist, who chairs the UN Task Force on harmonizing professional qualifications, and who has been chosen as Vice- Chair to the UN Secretary General Ban Ki-moon, of the Global Compact. He was also a member of the Association for International Arbitration for half a century, and a member of the International Chamber of Commerce (ICC) in Paris.

In his speech, Dr. Abu-Ghazaleh asserted the urgent need for arbitration as it has become the most powerful tool for resolving disputes, particularly conflicts that may harm the involved parties, and those around them. Dr. Abu-Ghazaleh believes that arbitration is a judicial process within the judicial system, as it achieves the same level of justice. It provides a fair way for resolving disputes in light of international laws contradictions and complications, Dr. Abu Ghazaleh said, adding, that it also assists in maintaining mediation privacy in a friendly atmosphere. That is in addition to the fact that its judgements will continue to serve the best interests of the disputing parties even after a while.

Dr. Abu Ghazaleh also pointed out that the most important aspect of arbitration is the promotion of international investments because it is used as a benchmark for the investment environment alongside the World Bank’s Standards.

Dr. Abu-Ghazaleh proposed during his speech the ‘establishment of technical committees’ to provide support to arbitration systems in every country, whose core mission is to develop governing legislation of arbitration, to study time limits and deadlines, to set controls to avoid procrastination, to  identify cases where issued arbitrations decisions could be overturned, and to establish an arbitration system under the League of Arab States and its organizations.

 Dr. Abu-Ghazaleh made another recommendation on the need to develop an arbitration induction program for businessmen, proposing as well a consensual arbitration system for the three regions (Africa-Mediterranean-Europe) as a new experience in his capacity as a La Verticale Chair, underlining at the same time the importance of developing a certified expert in Arbitration diploma.

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.