MoU to facilitate knowledge sharing and collaboration on arbitration within the GCC
EMAC and GCCCAC to assist in identifying suitable arbitrators and mediators to resolve disputes
Dubai, UAE, 9 March, 2017: In a move to further strengthen ties between arbitration centres in the region, the Emirates Maritime Arbitration Centre (EMAC), signed a Memorandum of Understanding (MoU) with the GCC Commercial Arbitration Centre (GCCCAC) during a ceremony on Tuesday 7 March.
Through the agreement, EMAC and GCCCAC will aim to work together to identify suitable arbitrators and mediators to assist in the resolution of disputes received by the centres. Additionally, the centres will collaborate on a number of knowledge sharing activities, including hosting seminars, workshops, presentations and educational sessions to raise awareness of arbitration and mediation as an alternate option for dispute resolution.
According to Mr. Majid Obaid bin Bashir, Vice Chairman and Secretary General of EMAC, this MoU provides a number of benefits and would assist in the promotion of alternative dispute resolution options for the private sector in the region.
“We are honoured to partner with GCC Commercial Arbitration Centre and look forward to harnessing the mutual benefits for this collaboration, with a focus on raising awareness of the benefits of arbitration to the region's commercial and maritime sectors,” said Mr. Majid Obaid bin Bashir.
Launched in 2016, EMAC was established to support the region's growing maritime industry. As the region's only maritime arbitration centre, EMAC has a key role to play in connecting legal and commercial professionals from the maritime industry locally, regionally and globally.