The Dubai International Arbitration Center (DIAC), an initiative of Dubai Chamber of Commerce, recently shared its expertise in settling commercial disputes with Kazakhstan’s Justice ministry.
Habib Al Mulla, chairman of DIAC’s board of trustees, met with a visiting delegation headed by Kazakhstan’s Deputy Minister of Justice Baimoldina Zauresh Khamitovna earlier this month.
The two delegations exchanged experiences and knowledge, with the Kazakh delegates seeking to gain insights from the Dubai International Arbitration Center, which is one of the world’s leaders in commercial arbitration.
The DIAC has a proven track record in the area, as it has promoted the importance of good arbitration techniques for stimulating business in Dubai and the Gulf region as a whole since the organization’s inception.
The Kazakhstan group expressed a desire to apply Dubai’s arbitration model in their country, which is looking to raise the competency level of the few independent arbitration tribunals that operate there.
Al Mulla said the DIAC’s biggest suggestion is to become part of the New York Convention on Arbitration, which sets the standard for world-class arbitration law. International standards set by International Chamber of Commerce and the International Council for Commercial Arbitration are also good practices to follow to strengthen Kazakhstan’s arbitration abilities.
