HE Dr. Omar Bin Sulaiman Addresses IBA's International Arbitration Day Conference in DubaiPress Release 16 Feb 2009 01:25 pm
HE Hadif Bin Jouan Al-Dhahiri, UAE Minister of Justice Speaks at the Event Conference Held by IBA in Association with DIFC-LCIA Arbitration Centre
The International Bar Association (IBA), today, held its 12th International Arbitration Day Conference in Dubai in association with the Dubai International Financial Centre – London Court of International Arbitration (DIFC-LCIA) Arbitration Centre.
The conference was addressed by HE Dr. Hadif Bin Jouan Al-Dhahiri, the UAEMinister of Justice; HE Dr. Omar Bin Sulaiman, Governor of the Dubai International Financial Centre (DIFC); and arbitrators, litigators and judges from around the world.
HE Dr. Omar Bin Sulaiman said: “Dispute resolution mechanisms have always been critical to the success and competitiveness of an economy. But, quick and efficient dispute resolution is particularly important now, at a time when the global economy is facing challenges. To increase the adoption of arbitration globally as an alternate dispute resolution mechanism, we need to actively communicate the benefits that arbitration can bring to businessmen, commercial outfits, governments and customers.”
Last year, the Dubai International Financial Centre, in a joint venture with the London Court of International Arbitration, created the DIFC-LCIA Arbitration centre to provide cost-effective, timely dispute resolution to businesses across the world. The establishment was part of DIFC’s strategy to develop itself into a global hub for international arbitration.
HE Dr. Omar Bin Sulaiman further said: “DIFC seeks to create a world-class arbitration hub in Dubai by offering a strong environment and infrastructure for the practice of international arbitration. We will be working closely with the London Court of International Arbitration to constantly evolve our Arbitration Centre to meet the changing needs of global business.”
Pierre Bienvenu, Co-Chair of the IBA Arbitration Committee said: “Dubai's important role in international commerce, its growth as a global financial centre and its rising status as a hub for international arbitration made it the ideal city to host the 12th International Arbitration Day conference. The Arbitration Day conference in Dubai provided a productive forum to discuss some of the critical issues facing the development of arbitration as an alternative dispute resolution mechanism”.
Focused on the theme, ‘Due Process in International Arbitration’, the 12th International Arbitration Day conference discussed a wide range of issues related to the practice of arbitration including: balancing fairness and efficiency; development and presentation of evidence; the equal treatment’ of parties during a dispute; the role of the tribunal constitution; and international best practices.