Dubai International Arbitration Centre (DIAC) signs MoU with Guangzhou Arbitration Commission (GZAC) to promote international arbitration and improve the centres’ ability to serve parties
Dubai International Arbitration Centre (DIAC), the largest international arbitration centre in the region, signed a Memorandum of Understanding (MoU) with Guangzhou Arbitration Commission (GZAC), the only civil and commercial arbitration body in Guangzhou, China. The MoU aims to promote international arbitration and further 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 and best practice sharing, as well as enhancing their arbitration services for clients worldwide. This partnership represents a significant milestone for DIAC and GZAC and reaffirms their commitment to providing unmatched alternative dispute resolution services.
Commenting on the MoU, Dr. Tariq Al Tayer, Chairman of Dubai International Arbitration Centre, said: “We are delighted to sign this MoU with Guangzhou Arbitration Commission, which will enhance our ability to serve the global economy and promote international arbitration. 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.”
Founded in 1994, DIAC provides commercial dispute resolution services to parties of all nationalities and jurisdictions outside judicial courts. It recently introduced new Arbitration Rules in 2022 to improve the efficiency of arbitration procedures and further consolidate Dubai’s position as an international dispute resolution hub through alternative methods. DIAC’s new strategy and visual identity, along with improvements to its Arbitration Court, enhance its capabilities and capacity in international alternative dispute resolution.
Li Shan, Secretary General of GZAC, congratulated on the newly established relationship, commented: “We are very glad to establish a cooperative relationship with DIAC, which is also our first partner in the Middle East. The UAE-China relationship has seen rapid, comprehensive and in-depth development, especially for economic and trade relations. We look forward to jointly promoting the development of international arbitration with DIAC and further stimulating international trade and investment between the two countries.”
Established on 29 August 1995, GZAC is one of China’s first seven urban arbitration institutions, administering the most annual arbitration cases nationwide. It has introduced the world’s first recommended standards for online arbitration services (known as the “Guangzhou Standards”) and promoted the “Four-Sharing” initiative to share online hearing standards, hearing facilities, arbitrators, and service windows with arbitration institutions globally. It focuses on the combination of advanced technology and arbitration, establishing the first APEC-ODR platform in the world.
