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Dubai International Arbitration Centre (DIAC) has signed a memorandum of understanding (MoU) with China’s Guangzhou Arbitration Commission (GZAC) to promote international arbitration and improve the centres’ ability to serve the economy, trade, and investment world.
The MoU will enable both parties to collaborate on various projects, including research, best practice sharing, and enhancing their arbitration services for clients worldwide.
Tariq Al Tayer, Chairman of Dubai International Arbitration Centre, said: “Our partnership with GZAC will enable us to share knowledge and expertise and further consolidate our position as leading arbitration centres in our respective regions.”
Li Shan, Secretary General of GZAC, stated that the centre aims to jointly promote the development of international arbitration with DIAC and further stimulate international trade and investment between the two countries.
Established on August 29, 1995, GZAC is one of China’s first seven urban arbitration institutions, administering the most annual arbitration cases nationwide.
DIAC is the region’s largest international arbitration centre, providing commercial dispute resolution services to parties of all nationalities and jurisdictions outside of judicial courts.
(Writing by P Deol; Editing by Anoop Menon)