Ministry of Finance Organises Dispute Resolution Forum

The UAE Ministry of Finance today announced the convening of a forum titled ‘Towards Cooperative Dispute Resolution Environment’ in Dubai on Wednesday, January 24. The forum aims to develop resolution practices for financial disputes through alternative means, such as mediation, which are more commonly known globally and align with the UAE government’s direction to optimise processes. 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 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.

Leave comment

Your email address will not be published. Required fields are marked with *.