Panels of eminent and experienced international arbitration practitioners are set to gather in Dubai for The London Court of International Arbitration’s (LCIA) annual conference.

The event will take place at the Dubai International Financial Center (DIFC) on November 24 and 25, 2007.

Entitled the ‘LCIA Arab Users’ Council Symposium,’ delegates are expected to delve into issues of critical importance related to establishing and maintaining an arbitration-friendly environment, in which the international business community may have confidence.

Particular emphasis will be placed on the Gulf Cooperation Council (GCC) region, within which Dubai has one of the most dynamic of the burgeoning economies. Panelists will include leading practitioners from Bahrain, Dubai, Egypt, France, Kuwait, Lebanon, New Zealand, Saudi Arabia, Singapore and the United Kingdom, said an official spokesman.

As president of the LCIA Arab Users’ Council and Member of the LCIA Court, Essam Al Tamimi, founder and managing partner of Al Tamimi & Company, will co-chair the two-day conference.

Al Tamimi is expected to push for the development of a legal framework conducive to arbitration, of which he has been a long time supporter. And as the GCC countries become more involved in negotiating international treaties with the US, the European Union (EU) and others, arbitration will continue to be the platform of choice for managing international treaties.

“Arbitration has provided international investors a stage to settle their disputes without having to worry about local procedures or being acquainted with local courts,” said Al Tamimi.

“Dispute settlement is the major concern for them and arbitration provides comfort. It not only provides the choice of venue, but also the choice of arbitrators who may be specialized in the concerned area,” he added.

With the young underdeveloped judicial and legal systems in the GCC countries, arbitration has been a critical factor in driving foreign direct investment (FDI). This is especially true for joint ventures (JV) set up with multinational companies to construct mega infrastructure projects, which act as the foundation for continued economic growth and development.

The LCIA is one of the longest-established international institutions for commercial dispute resolution. It is also one of the most modern and forward-looking.

Although based in London, the LCIA is a thoroughly international institution, providing efficient, flexible and impartial administration of dispute resolution proceedings for all parties, regardless of their location, and under any system of law.
Its operation and outlook are geared to ensuring that the parties may have complete confidence in its international credentials and in its impartiality. In addition to its dispute resolution services, the LCIA organizes a rolling program of conferences, for which it is renowned.

“An effective system of arbitration, whether pursuant to commercial contracts or investment treaties, has long been recognised as a vital element in the promotion of trade, foreign investment and, ultimately, international relations,”  said LCIA’s director general Adrian Winstanley. – TradeArabia News Service