Abu Dhabi: Abu Dhabi Commercial Conciliation and Arbitration Center (ADCCAC) of the Abu Dhabi Chamber of Commerce and Industry (ADCCI) has signed a cooperation agreement with the Australian Center for International Commercial Arbitration (ACICA).
Mohammed Helal Al Muhairi, Director General of the ADCCI, and Prof. Doug Jones, President of ACICA signed the agreement with the attendance of Pablo Kang, the Australian Ambassador to UAE, and Mohammed Al Nuaimi, Executive Director of the Communication Sector at the Abu Dhabi Chamber.
Mohammed Helal Al Muhairi, Director General of the ADCCI, said that signing this agreement with ACICA comes within the strategic plan of ADCCAC to expand its scope of work and services and to benefit from the best practices and knowledge in commercial arbitration. He pointed to the rapid rise in demand from global and local commerce for the fast, cost-effective and final resolution of disputes.
The Director General noted that ADCCAC is aware of developing the culture of arbitration and dispute resolution within the business community of the Emirate of Abu Dhabi.
For his part, Prof. Doug Jones, President of ACICA said: “We are delighted with entering into this agreement as it is a significant step in a strategic alliance between ACICA, based in Sydney, and the ADCCAC. we stand ready to assist the ADCCAC to build on its significant reputation in the region. It is also a basis for substantially raising the awareness in the Gulf Co-operation Council of the option of Australia as a neutral venue for hearing arbitrations resolving business disputes with trading partners in the Asia Pacific region.” The partnership between ACICA and ADCCAC is supported by the state government of New South Wales, Australia.
The cooperation agreement states that ADCCAC and ACICA agree to benefit businesses in Abu Dhabi and Australia in resolving their local and international disputes and benefit them from the facilities and services they provide.
The agreement also states that the two parties shall regularly engage in mutual exchange of information that assist in the development of arbitration and international dispute resolution jurisprudence and in the improvement of their rules and policies.