Dubai: The Ministry of Finance has organized a roundtable titled ‘Arbitration in Investment Disputes,’ in collaboration with the International Center for Settlement of Investment Disputes (ICSID).
The discussion mainly focused on issues faced by states, government officials, and investors with regard to their domestic and international investment relations and the resulting disputes.
Participants in the roundtable discussion included Mr. Thuraiya Hamid Alhashmi, Director of the International Financial Relations and Organizations Department at the UAE Ministry of Finance, Dr. Hussam Al Talhuni, the Legal Advisor to the Minister of Finance in the UAE, Ms. Natalí Sequeira, Senior Legal Counsel and Team Leader at ICSID, Dr. Tarek Riad, Managing Partner of Tarek Riad and Partners Legal Consultants and Attorneys at Law, Justice Shamlan Al Sawalehi, Court of Appeal Judge and Judge in Charge of the Arbitration Division at the DIFC Courts, and Mr. Karim Nassif, Principal at Nassif Arbitration, alongside a group of experts from the public and private sectors.
The experts discussed disputes that arise between countries receiving investments and investors of foreign citizenship, whether they are natural persons or legal persons. They also explored the challenges faced by state and public government officials and investors when engaging in investment-related agreements with dispute resolution clauses. These included factors like the identification of the dispute resolution mechanism, whether mediation, conciliation, or arbitration, and the determination of the jurisdiction.
Participants also discussed the identification of specialized arbitration centers by adhering to local legal frameworks and subject to oversight by the domestic judiciary, and the mechanisms for enforcing arbitration awards resulting from these proceedings. They also highlighted other pertinent details that are important for the governments, investors, and experts involved in the agreement.