ICC to hold Arbitration meeting
Dubai, October 25, 2011
The International Chamber of Commerce (ICC) UAE, in association with the Federation of UAE Chambers of Commerce and Industry, will host a reception for ICC global membership on October 29, to mark the occasion of the ICC commission on Arbitration’s meeting.
The reception, which will be held at The Palace Hotel in Dubai, is sponsored by law firm Pinsent Masons and business information provider Thomson Reuters.
The event is being held for the first time in the Middle East and immediately precedes the International Bar Association’s International Conference, which is also being held for the first time, a statement fom the chamber said.
The ICC recently launched its much-anticipated revised version of its Rules of Arbitration with the aim of better serving the needs of businesses and governments engaged in international commerce and investment.
The new rules will come into force on January 1, 2012, and take into account current requirements and developments in arbitration practice and procedure, as well as developments in information technology, since they were last revised in 1998.
Changes include provisions to address disputes involving multiple contracts and parties, updated case management procedures, appointment of an emergency arbitrator to order urgent measures and changes to facilitate the handling of disputes arising under investment treaties and free trade agreements, the statement said.
Attendees of the reception will have the opportunity to question experts from the drafting group which revised the rules and to network with some of the most prominent leaders in the arbitration world and business community in the UAE.
Dr Ahmed Saif Belhasa, chairman of UAE National Committee of the Chamber International, said: “Hosting this meeting reflects the status of the UAE and its effective role in investment and trade at a regional and international level. Then is highlighted the positive contribution in addressing the challenges facing business owners following the global financial crisis and the efforts of the government and its successful policy and procedures that have limited the impact of the crisis.”
Saeed Obaid Al Jarwan, board member and secretary general, International Chamber of Commerce – UAE, said: “The reception is taking place at an important time on the occasion of the ICC Commission on Arbitration meeting, followed by the IBA Conference where the new ICC Rules of Arbitration will be launched. The event will provide an opportunity for participants to exchange views and opinions with leading lawyers and arbitration experts from around the world.” – TradeArabia News Service