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DUBAI /Â WAM
The role of commercial arbitration in settlement of disputes and in ensuring an investment-friendly environment was the main topic of discussion at a meeting held by the Dubai International Arbitration Centre (DIAC), with a high-ranking Chinese delegation.
The meeting touched on ways of exchanging expertise in areas of arbitration, being an ideal alternative to litigation in resolving business conflicts. The Chinese delegation was comprised of representatives of a number of state-run departments , including the Legal Affairs Office of the People’s Government of Beijing Municipality.
Dr. Habib Al Mulla, Chairman of DIAC Board of Trustees, received the Chinese executives and underlined DIAC’s readiness to provide the Chinese representatives with all expertise needed to promote the culture of arbitration.
“DIAC, being one of the most prominent international arbitration centres operating in the region, has managed over the past years to play a significant role in strengthening the pillars of competitiveness and business environment in the Emirate of Dubai,” Al Mulla said.
He called upon Chinese companies to boost their business presence in Dubai, underlining the myriad advantages boasted by the Emirate’s investment environment, primarily high-end business facilities and sophisticated infrastructure streamlined by robust, expeditious and friendly tools for the resolution of conflicts.
The Chinese delegates commended the services provided by DIAC, underlining that Dubai is the favourite business destination for Chinese companies and their main crossroads to the Middle east, Africa and Europe.
Founded in 1994, the DIAC, a Dubai Chamber of Commerce and Industry, initiative, provides affordable arbitral services to businesses in dispute.