Discussions on commercial arbitration attract wide participation at DIAC event

the event was hosted by the chamber in the presence of numerous local and international lawyers, judges and specialists in commercial arbitration.

Buamim said DCCI hosted the event as part of its strategy and the mission to represent, support and protect the interests of the business community, in addition to promoting Dubai as a hub for businesses, and establishing an environment of the highest standards to allow companies and organisations to grow.

"As one of the leading economic organisations that represent the business community in Dubai and protect its interests, the Dubai Chamber of Commerce & Industry is utilising all means and effective tools to solve any possible disputes that might arise between any conflicting parties.

"Commercial arbitration is considered as one of the most effective methods of resolving these disputes and it has become a major component in any new business environment and a factor highly considered by investors before starting any new investment project."

Buanim also stressed that the chamber is always working on encouraging companies to expand and explore new markets. Part of this process is educating companies and investors about the availability of the appropriate laws that support the basis of commercial arbitration, and the presence of effective and developed arbitration organisations that apply the highest standards in this field.

"I would like to thank all the speakers, the organisers and the participants in this discussion for their great efforts to make it a really successful event," Buanim concluded.

Speaking at the opening of the half-day roundtable discussion, DIAC Director Dr Hussam Talhuni welcomed all the participants and emphasised the center's continuous focus on organising seminars to provide valuable information about commercial arbitration, targetting companies and specialists.

Talhuni said the international speakers who participated in the event explored a lot of important topics such as the role of the judiciary in the UAE in developing commercial arbitration, the role of attorneys and legal counselors in developing commercial arbitration in the UAE, and the key obstacles encountered in arbitration in the UAE.

"The roundtable focused on discussing the best ways to implement the new laws in international commercial arbitration that are needed to provide a suitable climate to activate commercial arbitration in the country and to generate trust from the commercial sector," Talhuni added.

The event is part of DIAC's strategy to develop arbitration in the region and bring together qualified arbitrators to meet with participants and interact with professionals from various fields and jurisdictions from the region and around the world and discuss the basis of arbitration and the most important developments in this field and how to implement the new rules.

The participants were also invited to interact with the speakers through an open dialogue in open-debate sessions.

The three sessions were hosted by various experts: the first included judges from the UAE and other Arab countries, the second included lawyers from different fields and jurisdictions, and the third included specialised arbitrators in commercial arbitration from different countries around the world.