Formal mediation and arbitration based on legal principles has now truly taken off in the UAE but not in the same way in other Middle Eastern countries, according to a legal expert.

The region has a history of disputes between parties being resolved by an elder person, London-based international commercial arbitration and litigation expert Sarosh Zaiwalla, a senior partner of Zaiwalla and Company Solicitors, said in an exclusive interview with the Gulf Daily News (GDN), our sister publication.

"So, the seed of mediation and arbitration existed in the Middle East."

However, Zaiwalla said, more needed to be done in order to ensure that the highest standard of integrity on the part of arbitrators and the legal fraternity was maintained through self-regulation. "This would ensure international public confidence in the Middle East arbitration forums."

Courts of the countries in the Middle East must also ensure that they lend a hand to make the award easily enforceable through the court process, he said.

Based on his experience of conducting numerous legal cases in the Middle East, Zaiwalla is of the opinion that the region does have a robust and effective legal and regulatory framework, which incorporates many best-practice techniques from its international allies.

"The Middle East region has certainly come a long way in just 10 years and is now qualified and very able to compete on several levels, including its legal system, with the best countries in the world.

"The credit for this must go to the enlightened leadership of various Middle Eastern countries," he added.

The lawyer considers the Middle East region "a vast, varied and exhilarating hub of constant activity.

"Every region is so diverse and offers different financial and business opportunities."

Bahrain, he said, has certainly developed its infrastructure, both physical and service-wise, in a very short space of time and is now regarded as one of the emerging, fresh markets in the Middle East.

"I think Bahrain can go on to achieve the status as a leader in the Middle East, attracting business, lucrative investment and securing monetary gains through such things as events-based tourism.

"But in order to fully reap these benefits, it will need to further loosen its regulations and make it easier for businesses to invest and do business without the need to involve government bureaucracy,” he added.

Zaiwalla was the first Asian to set up a law firm in London. – TradeArabia News Service