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DIAC aims to set new standard in commercial dispute solving

DUBAI — The Dubai International Arbitration Centre (DIAC) ambitiously seeks to become a true global player in the world of commercial disputes.

"Our aim is to eventually provide a real alternative to the International Chamber of Commerce in Paris and the London International Arbitration Institute, delivering a service that is not only more price efficient but also maintains the same high standard as our European counterparts," Dr Hussam S. Al-Talhuni, Director of the DIAC, told Khaleej Times.

The centre, launched in 2003 as a subdivision of the Dubai Chamber of Commerce, hits the nerve of the fast pace of the modern business world, where out-of-court dispute solving is commonly favoured to complicated and costly law case filing.

Especially a multi national business environment like Dubai strongly depends on an institution that functions inter-regional.

"Many of our clients are from the AGCC region, which is already a promising start for our trans-regional ambitions," Al Talhuni said.

The DIAC, which is operated by a board of trustees, also issues an Arabic-English journal dedicated to dispute resolution within the AGCC and other Middle East nations.

It furthermore holds conferences that tackle arbitration issues in various industry sections, such as the conference on maritime last June or the conference on arbitration in the construction industry which will be held on the 13th and 14th of November 2005.

The conference will examine construction procedures with an emphasis on the Middle East region.

"A whole 75 per cent of our cases are construction related," Al Talhuni explained. Al Talhuni furthermore hopes to increase awareness within the industry and the government of Dubai with the help of the conference.

Since its opening two years ago the DIAC has doubled its dispute solving cases in 2004 and tripled it the following year in 2005.

"Our success results from the increased trust we experience from people within the commercial industry, so we keep aiming to provide a convenient and private commercial court of international standard for the whole region," Al Talhuni resumed.