The Dubai Chamber of Commerce and Industry recently hosted a workshop in collaboration with Taylor Wessing (Middle East) to raise awareness about the UAE’s new arbitration law and examine how various provisions of the law may be interpreted and applied in practice.
The workshop, held at the Dubai Chamber’s premises, was attended by their members, arbitrators, lawyers, legal professionals, corporate counsel, contract administrators, companies’ managers and business owners.
Sessions, led by legal experts from Taylor Wessing (Middle East), familiarized participants with arbitration clauses included in contracts and explained how the law could be used to resolve disputes between entities based in different jurisdictions.
Paul Blakeway, Senior Associate, Taylor Wessing (Middle East) LLP, described the UAE’s arbitration law as an “important legislative development” and noted that the new law undoubtedly assists the UAE in continuing to market itself as a world-class destination for resolving arbitral disputes.
He added that the workshop was very beneficial for participants as it provided them with valuable insights and practical tips on how they can maximize the potential of the new law in contracts.
Jehad Kazim, Director of Legal Services Department at the Dubai Chamber, said that the new arbitration law has strengthened the UAE’s position as the preferred choice for arbitration in the MENA region.
“The UAE’s new arbitration law meets the evolving needs of the country’s maturing business community. The strong participation in the workshop reflects a keenness among companies and legal professionals to stay informed about important regulatory developments that impact businesses in the UAE,” she added.
The Dubai Chamber regularly organise training seminars and workshops to raise awareness about key business trends and laws impacting the emirate’s private sector. These events are in line with its strategic objectives of creating a favorable business environment and supporting business growth in the emirate.