|Event was the ideal platform for the business community to meet DIAC and its Executive Committee Event held on the sidelines of the first IBA annual conference in the Middle East. |
Dubai, UAE: Dubai International Arbitration Centre (DIAC), an initiative of Dubai Chamber of Commerce and Industry, organised its 6th Open Arbitration Dialogue yesterday on the sidelines of the first International Bar Association (IBA) annual conference to be held in the Middle East.
The popular DIAC event was organised under the topic ‘Meet DIAC and its Executive Committee’ and offered the business community an ideal platform to exchange views and raise questions or give feedback related to DIAC’s services.
It was held at the Ritz Carlton hotel in Dubai International Financial Centre (DIFC) on the first day of the IBA annual conference, which is being held in Dubai from October 30 to November 4.
Dr. Habib Al Mulla, Vice Chairman of DIAC Board of Trustees said the Open Dialogue initiative succeeded in creating an interactive platform between the centre and professionals interested in commercial arbitration.
“Arbitration is an efficient and effective means of resolving commercial disputes and one that is becoming increasingly common in Dubai and the Middle East region. Today’s event highlighted the interest amongst the business community of DIAC’s work and benefitted from exposure to thousands of leading legal professionals who are attending the IBA annual conference,” Dr. Al Mulla said.
“Today was an excellent opportunity for us to showcase DIAC’s services and expertise in the field of international arbitration, especially following on from our previous sessions in London, Paris and Seoul, which attracted a large number of participants and helped enhance the prestige of DIAC internationally,” Dr. Al Mulla said.
Professor Nassib G. Ziadé, DIAC Director, said that DIAC received 315 arbitration cases between January and September of 2011, compared to 280 at the same time in 2010, which represents an increase of 12.5%, pointing out that this rise in disputes is a natural phenomenon for a developing business community.
Professor Ziadé added that DIAC plays a pivotal role in developing the business environment in Dubai as most of our cases involve Dubai interests. DIAC plans to continue attracting most of the disputes involving Dubai interests. In addition, DIAC wishes to increasingly attract cases that involve only foreign parties thus expanding its outreach beyond the boundaries of the Dubai business community, he concluded.
Speakers at the Open Dialogue included Professor Martin Hunter, Chairman of DIAC Board of Trustees; Dr. Habib Al Mulla, Vice Chairman of of the DIAC Board of Trustees; Dr. Nael Bunni, Chairman of DIAC Executive Committee; Dr. Hadif Owais, Vice Chairman of DIAC Executive Committee; Mr. Michael Schneider, Dr. Tarek Fouad Riad and Dr. Fathi Kemicha, DIAC Executive Committee members; as well as Prof. Nassib G. Ziadé.
DIAC, which was founded in 1994, is an independent, non-profit organisation that aims to provide affordable arbitration and the settlement of commercial disputes for the business community. The centre provides the latest facilities to ensure the quality of arbitration services alongside a team of international arbitrators who are familiar with the process of international arbitration.