The Malta Arbitration Centre has signed a cooperation agreement with the Dubai International Arbitration Centre with a view to offering the best arbitration services to the business communities in both Malta and Dubai, as well as promoting the use of arbitration and alternate dispute resolutions in solving commercial disputes.
The agreement was signed by Dubai International Arbitration Centre Board of Trustees vice-chairman Dr Habib Al Mulla and Malta Arbitration Centre chairman Dr George Hyzler, and was exchanged through Malta’s Consul General in Dubai, Anthony Tabone.
Both parties agreed to provide all the assistance needed to identify arbitrators, mediators or conciliators, as well as appointing experts or assessors as appropriate for the resolution of disputes. The articles of cooperation include providing facilities and support services so that each signatory may fulfil its obligations with respect to any party wishing to use the services of the parties to the agreement. The Malta Arbitration Centre and the Dubai International Arbitration Centre also agreed to share information and assist each other in publications, advice and other matters related to dispute resolutions in general.
Commenting on the agreement, Dr Hyzler remarked: “The Malta Arbitration Centre is happy to extend its network of cooperation agreements and is particularly happy to strengthen the ties with Dubai in view of the increased level of business relations between Malta and the UAE.”
Mr Tabone added: “The signing of this agreement marks an additional step towards continually providing a stellar and streamlined arbitration resolution process. In the wake of increased commercial and business relationships between Dubai and Malta, reaching a common ground for arbitration of commercial disputes will help a better understanding of practices and procedures amongst investors. It only goes to show the increased level of commitment that both centres have towards the larger motive of a smooth business approach.”
Dr Al Mulla observed that the agreement “signals a new era of effective cooperation between the Dubai International Arbitration Centre and the Malta Arbitration Centre,” adding that a healthy business environment in Dubai requires a solid arbitration system that spreads confidence amongst investors through the use of quick and cost-effective methods such as arbitration, mediation and conciliation.