The Dubai Maritime City Authority (DMCA) is in the final stages of completing the rules for the first maritime arbitration centre in the Middles East: the Emirates Maritime Arbitration Centre (EMAC) says Al Tamimi & Company, Advocates and Legal Consultants.
The move to set up EMAC reflects Dubai’s commitment to creation a full-fledged legal environment within the maritime sector with an aim to develop, regulate and enhance the emirate’s competitiveness as a global maritime hub. The maritime arbitration centre with international standards is expected to boost the stature of the emirate as a hub of maritime activities in the world.
This arbitration centre is being launched pursuant to Dubai Maritime City Authority’s Law No. 11 of 2007, which stipulates that an arbitration centre meeting international standards is to be created within Dubai’s Maritime City. EMAC will fill the immediate need for a specialized maritime arbitration centre in the Middle East
, Asia and Africa
The centre, the first initiative of its kind, will be tasked with settling the disputes emanating from marine trade transactions in the Middle East in accordance with legal frameworks and regulations.
EMAC’s Rules are based on the UNCITRAL Arbitration Rules 2010 but are full of new approaches and new methods which it is hoped will bring a fresh touch and a faster and cheaper arbitration process than offered by the current maritime arbitration centres.
Meanwhile, Dr. Abdullah Belhaif Al-Nuaimi, Minister of Public Works emphasized the importance of alternative dispute resolution. The UAE government believes in arbitration as one of the venues for settlement of disputes and in particular for shipping disputes.
He also emphasized that the government will have no involvement in the running of the arbitration centre. It is for the parties to agree on arbitration and the arbitration centre will be fully independent. The government will assist in providing support and training to allow the centre to operate fully and independently from the government.