As part of its efforts to boost confidence within the maritime industry as far as arbitration and mediation in the UAE are concerned, the Emirates Maritime Arbitration Centre (EMAC) has announced its intention of visiting various leading maritime companies and organisations in the Middle East during 2018, to introduce and explain the benefits of its services.
The first in this planned series of meetings recently took place at the DP World headquarters in Jebel Ali Port, led by Majid Obaid bin Bashir, acting chairman and secretary general of EMAC, and Mohamed Yousef Al Muallem, senior vice president and managing director of DP World. At the meeting both sides echoed the importance of ensuring that the industry as a whole works towards strengthening ties to support maritime growth in the region. According to bin Bashir: “One of our main targets this year is to go to large maritime companies to encourage them to write EMAC’s model clause into their contracts. We are taking the initiative and are going to their legal and commercial teams to start the conversation with them. We have great ambitions and are hopeful that through these conversations, we will not only add value to the maritime cluster, but also to the growth of the country’s economy.”
DP World indicated at the event that there was ‘no doubt’ that it would benefit from EMAC’s services going forward.
EMAC was established in accordance with Emiri decree No. 14/2016 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, in April 2016, with a formal launch of its services in November of the same year. Initially based out of Dubai International Financial Centre (DIFC), EMAC has its own legal identity and is financially and administratively independent.
The first specialised maritime arbitration centre to be established in the MENA region, EMAC’s aim is to position the UAE as a centre of excellence for maritime arbitration, adhering to international best practice norms.
Impartial and transparent, EMAC works with organisations across the region, providing services for resolving maritime disputes through arbitration, mediation and other processes. EMAC has adopted internationally recognised arbitration and mediation rules and these include provisions to allow emergency and fast-track arbitration, to address the sector’s need for quick and efficient dispute resolution.