Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
 | 
Last updated 0 minute ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
HOME LOCAL MIDEAST ASIA WORLD BUSINESS SPORT OPINION WRITERS
DIFC DRA, China’s arbitration body forge alliance
BY OUR BUSINESS BUREAU November 01, 2017
 Print    Send to Friend

DUBAI: Dubai’s Dispute Resolution Authority (DRA) has taken another step towards global connectivity of dispute resolution centres by forging an agreement with one of China’s leading arbitration bodies.

The Memorandum of Understanding (MoU) targets the development of online dispute resolution solutions to bolster global e-commerce and the use of smart technologies, such as artificial intelligence and blockchain.

The agreement will also support the development of enforcement mechanisms between Hangzhou and DIFC Courts.

The co-operation accord was signed by Mark Beer, OBE, Chief Executive, DRA, who was in China to speak at The Second Global Cross-border e-commerce Summit and Liang Zhao, Deputy Secretary- General, Hangzhou Arbitration Commission.

With Hangzhou spearheading the ‘online silk road’, the conference also explored the protection of intellectual property relating to cross-border e-commerce. Emerging as the modern-day crossroads connecting east and west, Dubai’s commitment to harness technology to be a City of the Future compliments Hangzhou’s parallel ambitions.

Looking East and developing relations with China is amongst the foreign policy priorities of Dubai and the UAE. China has been Dubai’s biggest trading partner since 2014 and it has been the second-largest trading partner of the UAE since 2011. According to the UAE Ministry of Economy, the total UAE-China trade amounted to $141.74 billion during the 2014-2016 period. Non-oil trade between the two countries stood at $46.3 billion in 2016, with the UAE’s investments in China worth more than $2.1 billion.

This knowledge exchange agreement follows the newly announced Courts of the Future Forum, an initiative spearheaded by the DRA’s DIFC Courts, and the Dubai Future Foundation.

Assembling global experts in law, technology, IT and business, the Forum will aim to design a global prototype for how the Courts of the Future will apply the Rules of the Future to solve the Problems of Future.

Add this page to your favorite Social Bookmarking websites
Comments
 
Post a comment
 
Name:
Country:
City:
Email:
Comment:
 
    
    
Related Stories
UAE developer breaks ground for Dhs1b project
DUBAI: UAE-headquartered upscale residential, hospitality and commercial property developer Seven Tides has broken ground on SE7EN City JLT, its first mixed-used developm..
Indian businesses explore coordination with SPC
SHARJAH/NEW DELHI: Sharjah Publishing City (SPC), a subsidiary of the Sharjah Book Authority (SBA), has showcased its key publishing services and promising investment opp..
Hiring in UAE to go up by 10 to 15% in 2019
Dubai: Opportunities for jobseekers in the UAE are likely to improve in the coming year, with companies expected to increase their headcounts over the next few months in ..
Tourists satisfied with UAE’s tax refund system
Abu Dhabi: The inspection tours conducted by the Federal Tax Authority (FTA) have revealed that customer satisfaction with the Tax Refunds for Tourists Scheme’s electroni..
UAE recipient of 40 per cent of FDI inflows to West Asian nations
ABU DHABI: The UAE maintained its lead in attracting the highest amount of Foreign Direct Investment (FDI) inflows to the Arab region in 2017, according to a top official..
FRONTPAGE
 
GALLERY
 
PANORAMA
 
TIME OUT
 
SPORT
 
 
Advertise | Copyright