Dubai: The UAE Ministry of Finance will organize a forum called ‘Towards Cooperative Dispute Resolution Environment’ in Dubai on January 24, 2024.
The forum’s goal is to create procedures for resolving financial disputes through alternative channels, like mediation, which are more widely accepted worldwide and in line with the UAE government’s directive to streamline procedures.
These solutions effectively reduce costs, boosting efficiency and flexibility, which ensure continuity of relationships regardless of the parties’ differences.
The forum will showcase the UAE’s efforts in this field, as legislation has been issued that instils these concepts, such as Federal Decree-Law No. 12 of 2023 on public-private partnerships, and Federal Decree-Law No. 11 of 2023 on federal government procurement. In addition, the agenda includes speakers from several local and international specialists in the field, from the public and private sectors alike, including judges, lawyers, CEOs, and academics.
The sessions will cover various aspects of the dispute resolution and mediation process, including a discussion on mediation practice development in the UAE and the mediation legal framework in the UAE, as well as a debate on whether arbitration and litigation are better suited to resolve complex commercial disputes than mediation.
Moreover, the forum will include a presentation on challenges facing mediation in the region, followed by a discussion on practical notes on mediation, with an emphasis on construction, infrastructure, energy, and technology contracts. The forum will conclude with an open dialogue about the way forward, exploring mediation enablers.