26 Sep 2024
.Dubai Courts has signed a Memorandum of Understanding (MoU) with Dubai Chambers to enhance the emirate's position as a trusted global center for resolving commercial disputes. The agreement is aimed at developing initiatives, programmes, and activities that enhance opportunities for resolving commercial disputes through mediation and conciliation between disputing parties.. .Under the terms of the MoU, the agreements approved in the Dubai Courts System will be given the force of an executive instrument and be binding on the involved parties, which will further ensure the implementation of the terms of the agreement. . .The agreement is aimed at enhancing communication channels between the two parties to support the exchange of legal data and essential information and develop effective dispute resolution services and processes. The parties will exchange knowledge and experience in the fields of innovation and digitalisation to drive service excellence, in addition to cooperating to educate members of Dubai Chamber of Commerce on the importance of amicably resolving commercial disputes. The MoU also seeks to strengthen collaboration on studies and the benchmarking of international best practices in mediation and reconciliation.. .Commenting on the agreement, His Excellency Prof. Dr. Saif Ghanem Al Suwaidi, Director of Dubai Courts, said : We at Dubai Courts are pleased to sign the MoU with Dubai Chambers, which represents a fundamental step in our efforts to enhance the position of the Emirate of Dubai as a leading and prestigious global center for settling commercial disputes. This strategic partnership is part of our ongoing efforts to enhance the legal infrastructure and intensify digital transformation efforts, in line with the vision of the wise leadership to establish Dubai as the first destination for justice, and enhances our ability to provide a distinguished global model in alternative justice. . .His Excellency continued : Through this agreement, Dubai Courts is committed to enhancing cooperation to ensure the integration of efforts and unification of visions to achieve the highest standards of justice. We are working hard to develop judicial work mechanisms based on the best international practices, to ensure the provision of fast and accurate judicial services that keep pace with the needs of the growing business community in Dubai. Thanks to this fruitful cooperation, we aspire to raise the level of alternative justice to new horizons, as we affirm Dubai Courts' keenness to provide an integrated legal environment that supports innovation and contributes to enhancing economic growth. We affirm our firm commitment to enhancing cooperation and partnership with all stakeholders to achieve our common goals of making Dubai a role model in justice.. .His Excellency also emphasized that he considers the signing of the MoU with Dubai Chambers a pivotal moment that enhances Dubai Courts' ability to provide added value to businesses and society in general, adding : We trust that this cooperation will achieve tangible results that benefit all parties, and will contribute to consolidating Dubai's global position as an economic center characteried by a world-leading judiciary.. .In a statement on the sidelines of signing the MoU, His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said : The sophisticated, efficient, and flexible legislative and legal environment governing Dubai's business landscape is a key factor in the emirate's attractiveness among investors and companies from across the globe. The MoU with Dubai Courts is a strategic step to enhance mediation services for settling commercial disputes in the emirate and develop their effectiveness and competitiveness globally, which will reflect positively on Dubai's favourable business environment and stimulate growth and prosperity. The agreement will also support Digital Dubai's strategy to build a reliable and strong digital ecosystem that enhances the digital economy by leveraging electronic connectivity in the settlement of commercial disputes.. .The mediation service provided by Dubai Chamber of Commerce offers a range of advantages including flexibility, speed, efficiency, and confidentiality, as well as helping the parties involved to save time, effort and money. Mediation also contributes to maintaining commercial relations between the disputing parties and ensures they maintain full control over the process from beginning to end.. .Dubai Chamber of Commerce plays a crucial role in representing, supporting, and protecting the interests of Dubai's dynamic business community. The chamber strives to create a commercial landscape that supports the growth of local companies and promotes the emirate as a leading global business hub. The efforts of both Dubai Courts and the chamber are aligned with the goals of the Dubai Economic Agenda (D33), which aims to double the size of the emirate's economy over the coming decade and position Dubai among the top three global cities... ..