Law Middle East quotes Thomas Snider and Dalal Alhouti on the UAE’s rise into the top five seats of arbitration in the International Chamber of Commerce (ICC) International Court of Arbitration
For the first time, the UAE has entered the top five seats of arbitration in the International Chamber of Commerce (ICC) International Court of Arbitration, according to the latest figures.
Thomas Snider, Partner and Head of International Arbitration, reflects on these figures for Law Middle East and says that the UAE arbitration landscape is poised for further growth:
It is likely that further frameworks will be developed to enhance enforcement between the emirates and the economic free zones in the DIFC and ADGM, as well as internationally.
"For now, the ICC’s data serves as both recognition and incentive—a sign the UAE’s long-term investment in building an arbitration-friendly environment is paying off, and that its ambitions to be a global centre for dispute resolution are not aspirational but achieved.
Dalal Alhouti, Knowledge Counsel, adds:
The findings reflect the confidence businesses have in the UAE’s legal environment.
"They also reflect the significant and increasing amount of cross-border business done in the UAE, since international business partners often prefer using international arbitration over local courts with which they are less familiar."
Read the full piece in Law Middle East here.
