Dubai Chamber of Commerce and Industry recently hosted a workshop in collaboration with Taylor Wessing (Middle East) which raised awareness about the UAE’s new arbitration law and examined how various provisions of the law may be interpreted and applied in practice.
The workshop, held at Dubai Chamber’s premises, was attended by Dubai Chamber members, arbitrators, lawyers, legal professionals, corporate counsel, contract administrators,
companies’ managers and business owners, said a statement from the organisation.
Sessions, led by legal experts from Taylor Wessing (Middle East), familiarised participants with arbitration clauses included in contracts, and explained how the law could be used to resolve disputes between entities based in different jurisdictions.
Paul Blakeway, senior associate, Taylor Wessing (Middle East), described the UAE’s arbitration law as an “important legislative development” and noted that the new law undoubtedly assists the UAE in continuing to market itself as a world-class destination for resolving arbitral disputes.
He added that workshop was very beneficial for participants as it provided them with valuable insights and practical tips on how they can maximise potential of the new law in contracts.
For her part, Jehad Kazim, director of Legal Services Department at Dubai Chamber, said that the new arbitration law has strengthened the UAE’s position as the preferred choice for arbitration in the Middle East and North Africa (Mena) region.
“The UAE’s new arbitration law meets the evolving needs of the country’s maturing business community. The strong participation in the workshop reflects a keenness among companies and legal professionals to stay informed about important regulatory developments that impact businesses in the UAE,” she added.
Dubai Chamber regularly organises training seminars and workshops to raise awareness about key business trends and laws impacting the emirate’s private sector. These events fall in line with its strategic objectives of creating a favourable business environment and supporting business growth in the emirate. – TradeArabia News Service