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EMAC appoints board of trustees

DUBAI, April 21, 2016

Emirates Maritime Arbitration Centre (EMAC), the first centre of its kind in the Middle East for the settlement of maritime disputes, has commenced operations with the appointment of members of its board of trustees.

EMAC will settle maritime disputes in accordance with legal frameworks and thoughtful and independent regulatory controls.
 
The centre aims is to achieve the ambitious goal of making the UAE one of the most competitive maritime centres in the world. The decree appointing the board members was issued by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai.

The board includes influential government, maritime, legal and business figures, namely, Ahmad Issa Al Falahi, Dr Ali Obaid Al Yabhouni, Dr Chi-Sang Kim, Mohammed Al Muallem, Capt Mohamed Juma Al Shamsi, Mohammed Saeed Al Kindi, Saadi Abdul Rahim Al Rais, Saeed Al Malek, Capt Jitendra Misra, Richard Briggs, Edward Newitt, Christopher Mills and Essam Bella.

The launch of the centre is timely as maritime sector in Dubai and the UAE is currently witnessing outstanding development which requires the existence of a fundamental pillar for updating maritime regulations and operational strategies, it said.

The centre is a significant addition to ongoing efforts to meet the urgent need for clear and sophisticated regulatory frameworks for maritime arbitration, as the world is witnessing an increasing number of disputes arising in conjunction with the steady growth in international maritime trade. The centre upholds a legal system that provides absolute freedom in the selection of litigation and multiple mechanisms of arbitration in accordance with the highest standards of confidentiality, transparency and efficiency. The centre also provides a wide range of legal options to resolve disputes related to various marine business operations, it added.

Sultan Bin Sulayem, chairman of the Dubai Ports, Customs and Free Zone Corporation and president of Dubai Maritime City Authority, said: “It is not surprising for Dubai to incubate the EMAC which is of special importance as a proactive regional initiative for the settlement of disputes according to developed arbitration mechanisms and thoughtful and independent legal frameworks and regulatory controls.”

“We are confident that the centre will play a pivotal role in the organisation of maritime arbitration which has become an urgent need for improving the performance, safety, efficiency and competitiveness of the local maritime sector and for gaining the trust of regional and international investors in Dubai’s and UAE maritime sector with all its opportunities and promising prospects,” he added. – TradeArabia News Service




Tags: | Maritime | Emac |

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