As part of their efforts to promote commercial arbitration in settling trade conflicts, and to exchange experiences and knowledge in the area of alternative dispute resolution, the Dubai International Arbitration Centre (DIAC) which is an initiative of Dubai Chamber of Commerce and Industry, in cooperation with the UAE Consulate in Shanghai organised an initial session to highlight the benefits and services offered by the Centre to Chinese contracting parties, at the Pudong Shangri-La Hotel in Shanghai just recently.

The meeting, attended by H.E. Ibrahim Almansouri, Consulate General of the United Arab Emirates in Shanghai, also consisted of interested entrepreneur, practicing lawyers, arbitrators, ADR practitioners, specialists and users, litigators, judges and academics, concentrated on the world-class arbitration services provided with by the Centre in settling global trade disputes and how Chinese contracting parties can gain from these diverse services.

The DIAC delegation consisted of Dr. Habib Al Mulla, Chairman Board of Trustees, DIAC, Prof. Dr Tarek Fouad Riad, Chairman of the DIAC Executive Committee, Prof. Phillip Capper, Partner and Head of International Arbitration at White & Case LLP in London, and Mr. Erik Schfer, Partner of Cohausz & Florack, Germany.

In his welcome address during the meeting, Dr. Habib Al Mulla called upon the Chinese companies making their base in Dubai to reach out to the rewarding markets of the area, adding that the emirate's tactical location, its highly established facilities, logistical and financial services make the city an ideal financial investment destination for international investors.

Dr. Al Mulla also stressed on the presence of a strong legal structure in the emirate which he said secures the rights and duties of overseas business along with their FDIs as Dubai stresses on adopting alternative methods of arbitration in settling trade conflicts.

On his part, Dr Tarek Riad highlighted the most recent activities and advancement plans of DIAC while stressing on its commitment in offering all the help and expertise to global Chinese contracting companies and the Centre's experience in promoting the use of alternative methods of trade conflict as practised the world over.

He likewise stated that DIAC is focusing on having its services to the Chinese companies which are very active all over the world, for that reason this check out to China is important in raising awareness and value of arbitration as a quick and smooth methods of settling trade disagreements unlike the court proceedings which are long and tiresome.

The Dubai International Arbitration Centre which was founded in 1994,.is an independent, non-profit organisation that intends to have budget friendly arbitration and the settlement of industrial disputes for business community. It looks for to supply a versatile and unbiased system in fixing and settling worldwide disputes in your area, regionally and worldwide at competitive prices. The Centre has the current facilities to ensure the quality of arbitration services, together with a group of international arbitrators who recognize with the procedure of international arbitration.