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Dubai, UAE: An advancement in the UAE’s Arbitration Law is applauded by the arbitration community within the region. As part of a duty to ensure that the maritime and legal community understand the benefits of arbitration within the UAE under the new law, the Emirates Maritime Arbitration Centre (EMAC) partnered with the UAE Ministry of Economy to host a seminar in which key elements of the new law were highlighted and presented by prominent arbitration legal experts. The session was run in both Arabic and English, one after the other, to maximise the outreach within the legal and professional industry. Mr. Majid Obaid bin Bashir, Acting Chairman and Secretary General of EMAC, moderated the Arabic session, that included: Mr. Ali Al Aidarous - Managing Attorney, Ali Aidarous, Dr. Jassem Al-Shamsi - Chairman of Board of Trustees of the IICRA, Dr. George Hazboun - Partner, Maalouf Ashford & Tobt, Mr. Hassan Arab - Partner, Dispute Resolution, Al Tamimi & Company. Mr. Richard Briggs - Board of Trustee, EMAC & Executive Partner, Hadef & Partners, moderated the English session, that included: Mr. Gordon Blanke - Partner, International Commercial & Investment Arbitration, DWF (Middle East) LLP, Mr. Thomas Snider - Partner, Head of Arbitration, Al Tamimi & Company, and Mr. Ali Al Aidarous - Managing Attorney, Ali Aidarous. Key members from EMAC and Ministry of Economy advisors were also present engaging the audience on what the law means to the region’s and the UAE’s arbitration and maritime sector.
H.E. Abdullah Sultan Alfan Alshamsi, Assistant Undersecretary, Ministry of Economy and Head of the Executive Team of the Global Innovation Index, said that the UAE continues to enjoy a vital economic and continuously evolving business environment, which has reinforced its position as a major commercial and trade destination for the region.
H.E. affirmed that providing the country's active economic environment with legislative frameworks that enhance its economic and investment attractiveness has resulted in an increased confidence that is deemed an essential aspect to the achievement of sustainable development. This highlights the importance of issuing Federal Law No. 6 of 2018 on Arbitration as an important step towards improving the arbitration environment in the UAE as a legal way to solve commercial disputes.
H.E Al Shamsi pointed out that the law has contributed to finding comprehensive and modern legislative support for arbitration rules in the country, which falls in line with the developments of international arbitration and creating a legislative framework to attract arbitrators and arbitral institutions to make the UAE a leading incubator in the field of international arbitration and in line with the latest international trends in this field.
“We are honoured to co-host this seminar with the Ministry of Economy. As part of the UAE’s government vision to continue building the UAE’s reputation to provide a stable legal framework to further boost investors’ confidence, we trust that the new Arbitration Law will further improve the efficiency of the arbitral process,” said bin Bashir.
“As EMAC aligns its processes to support these new laws, we believe that our alternative dispute resolution services will benefit the maritime sector at large. As we receive cases, we will continue to strive to share knowledge about how to best approach disputes through arbitration with EMAC”, added bin Bashir.
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About Emirates Maritime Arbitration Centre (EMAC):
Emirates Maritime Arbitration Centre (EMAC) was established in accordance with Emiri decree No. 14/2016 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, in April 2016, with a formal launch of its services in November of the same year. Initially based out of Dubai International Financial Centre (DIFC), EMAC has its own legal identity and is financially and administratively independent.
EMAC was launched in response to the region’s growing maritime activity, the UAE’s ambitions to develop into the world’s largest maritime hub in the world by 2025, and the belief in the efficiency of the arbitration process. The first specialised maritime arbitration centre to be established in the MENA region, EMAC aims to position the UAE as a centre of excellence for maritime arbitration, adhering to best practice in line with international standards.
Impartial and transparent, EMAC works with organisations across the region, providing services for resolving maritime disputes - through arbitration, mediation and other dispute resolution processes. EMAC’s rules are built on the most up to date internationally recognised arbitration and mediation rules - they allow for emergency arbitration and fast-track arbitration, to meet market demand and address the sector’s need for fast and efficient dispute resolution.
By establishing a trusted global standard for maritime arbitration services in the UAE, EMAC aims to continue to promote awareness of local, regional and international dispute resolution best practices, and to further support the UAE as it develops into a world-renowned maritime destination.
For any further information, please contact:
Reka Sepsy
+971 (0) 55 220 6820
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