Dubai hosts two high profile Arbitration Conferences as UAE businesses start to recover from the economic downturn As business across the GCC comes to terms with the new regulatory, legislative and commercial environment in the wake of the downturn, Dubai will be playing host to two major Conferences analysing the use of arbitration to resolve major cross border disputes.

ICC-UAE hosted a meeting for its Commission on Arbitration members, to analyse the arbitration rules in the UAE on 18^th October followed by a high profile two day Conference on Arbitration Awards on 19^th - 20^th October 2010.

Mr. Saeed Obaid Al Jarwan, Secretary General, ICC UAE welcomed the participants to and expressed his gratitude for attending the meeting.

The meeting was chaired by Essam Al Tamimi, Chairman of the ICC- UAE Commission on Arbitration, in which he updated the members on the development and progress of the commission as well as provides updates on the activities of task forces. In addition, the meeting included latest developments of arbitration practices in the UAE comprising the revision of the arbitration rules, and also an update on the ICC’s international agenda and an overview of the arbitral procedure.

The ICC - UAE then supported the International Arbitral Awards Conference on 19^th - 20^th October. The two-day Conference, under the auspices of the International Court of Arbitration, will examine arbitral awards from their historical perspective and theoretical basis and offer technical and practical sessions designed to promote the efficiency of the arbitral process.

Arbitration is by far the most commonly used alternative to litigation in cross-border dispute resolution and arbitral awards now enjoy much greater international recognition than the judgments of national courts, and is now a crucial part of international trade, commerce and finance. The Arbitral Awards Conference provides business leaders with information and insight which will allow them to utilise the arbitral process to their commercial advantage.

ICC-UAE chairman Dr. Ahmed Saif Belhasa addressed and welcomed the attendees. He appreciated the role of ICC and developing the global economy. He also emphasized the importance of ICC UAE and its commissions. The Arbitration Commission has been established this year and is progressing well with many members. Task forces have been actively working including a task force on the UAE Draft Arbitration law, techniques for managing fees and expenses and UAE Arbitration Case Law.

This conference was aimed at understanding and analysing the scrutiny process of the International Court of Arbitration (ICA), and will include a mock Court session. ICA chairman John Beechey and secretary general Jason Fry participated in the session along with arbitration experts from the UAE and around the world. The Conference also discussed the enforcement of arbitral awards, particularly when a Sovereign State is involved during a roundtable session with a focus on GCC region.

HE Hisham Al Shirawi, 2nd Vice Chairman, Dubai Chamber of Commerce & Industry, commented that “Dubai Chamber has been very proactive in the realm of arbitration as it has set up the Dubai International Arbitration Centre (DIAC) way back in 1994 for promoting the importance of commercial arbitration and alternative means to resolving commercial disputes in laying the foundations of a healthy and productive work environment in Dubai according to best international standards.

Commenting further on the conference, Essam Al Tamimi, Chairman of the ICC-UAE Commission on Arbitration said: “Economic growth and development has enticed a large number of multinational companies to the UAE, the enforcement of local and foreign arbitration awards has improved tremendously within the GCC region. However, to encourage future investment, enhancement of commercial dispute resolution mechanisms must be firmly at the top of the Government's agenda.”

Sami Houerbi Director of ICC Dispute Resolution Services for Eastern Mediterranean, Middle-East & Africa added: “Arbitration and ADR are gaining considerable traction in the major financial and legal centres across the Middle East and this Conference comes at an ideal time. The financial crisis has sparked an increase in contractual disputes across multiple business sectors and this has been a catalyst for considerable regulatory and legislative change, as governments across the region, with the UAE at the head, demonstrate interest in embracing arbitration and ADR as ideal methods of resolving commercial and financial contractual disputes.