In a significant step signalling a more robust and collaborative approach towards international arbitration, the Dubai International Arbitration Centre (DIAC) and the Shenzhen Court of International Arbitration (SCIA) convened virtually to sign a Memorandum of Understanding (MoU). This strategic alliance signifies a commitment to enhancing the dispute resolution mechanisms and symbolises the unity of vision and mutual goals both institutions uphold.
The MoU, marked by mutual respect and shared vision, intends to forge a path of innovation and excellence in international arbitration. Both parties are geared to leverage their combined strength, offering world-class dispute resolution services to the global business community. It is worth mentioning that according to the MOU, the two parties will establish “SCIA-DIAC Hearing Centre” at SCIA Tower, the headquarters of SCIA, in order to deepen the cooperation between the two parties.
H.E. Dr. Tariq Humaid Al Tayer, Chairman of the DIAC Board, remarked on the occasion, “The essence of this MoU resonates with the shared goals of DIAC and SCIA. It is imperative for us to capitalise on this agreement, deepening our collective knowledge and striving together to establish a gold standard for international arbitration.”
Echoing these sentiments, Dr. LIU Xiaochun, President of SCIA, commented, “Today signifies not just the culmination of our past developments and exchanges but also sets the stage for future collaboration. By combining the strengths and expertise of both SCIA and DIAC, we look forward to achieving significant breakthroughs in the realm of international arbitration.”
The economic ties between the UAE and China have consistently flourished, marking them as key trade and investment partners on the global stage. Particularly, the connection between Dubai and Shenzhen serves as a testament to this dynamic relationship. As two of the most innovative and fast-growing cities in their respective regions, they stand as epitomes of growth, innovation, and collaboration. The partnership between DIAC and SCIA symbolises a vision for a future where shared goals and mutual benefits steer the path of global economic endeavours.
Founded in 1983, the Shenzhen Court of International Arbitration (SCIA) has continuously evolved, reflecting China’s progressive reform and opening-up and international collaboration spirit. With services extended to 140 countries and a diverse panel of arbitrators spanning 114 countries, SCIA stands as a leader in global international arbitration.
Established in 1994, the Dubai International Arbitration Centre (DIAC) is the largest international arbitration centre in the Middle East. Dedicated to providing unmatched alternative dispute resolution services, DIAC’s newly reformed court, expanded board of directors, and new Arbitration Rules introduced in 2022 further solidify its esteemed reputation.