Tahkeem participates in International Investment Conference in Kuwait

KUWAIT: As part of a push to increase its cooperation with similar regional and international entities, Sharjah International Commercial Arbitration Centre, “Tahkeem”, recently participated in the Conference for Arbitration in International Investment, held in Kuwait from 17-18 February 2016. Organized by the Kuwaiti Ministry of Justice, the General Authority of Endowments and Islamic Affairs and in cooperation with the Permanent Court of Arbitration, the event was held under the patronage of HH the Prime Minister Sheikh Jaber Al-Hamad Mubarak Al Sabah.

The conference was attended by many official entities and international organisations, including the UN Commissionon International Trade Law, and the Arab Administrative Development Organisation (ARADO) from the League of Arab States.

As part of the conference program, the Director of Tahkeem, Ahmed Alechlah, presented a paper in which he described the organization’s role in the reinforcement of a stable investment environment, in Sharjah.This was highlighted as being achieved by offering flexible, easy to use, efficient services, forthe resolution of commercial disputes. According to Alechlah, Tahkeem’s procedures are modelled on and operated to the highest international legal standards. Alechlah also highlighted Tahkeem’s mission, which is the dissemination of a commercial arbitration culture among the various economic sectors in the emirate. The rules it has adopted are based on “absolute impartiality, accuracy, flexibility, professionalism, as well as quick settlement of all disputes.”

On the sidelines of the conference, Alechlah added: “At Tahkeem we are eager to raise awareness of Sharjah’s arbitration systems and practices among law practitioners and business professionals- at a local, regional and international level. The importance of these conferences is such that we can foster a spirit of cooperation with likeminded entities in order to achieve our objectives of developing practical solutions for all challenges facing the arbitration sector.” “These conferences are an ideal platform for Tahkeem to promote its outstanding services and for meeting an elite group of international experts and consultants in this field. It is also a great opportunity for us to share information about the latest procedures, laws and regulations,” Alechlah added.

Through its participation in the conference, Tahkeem sought to boost its collaboration with governments and private agencies so as to reinforce Sharjah’s position as a pioneering centre for the attraction of foreign direct investment (FDI) into the emirate.

Discussion areas at the conference included topics such as: international agreements for arbitration of investment disputes in Washington DC, Geneva, at the European Convention, Riyadh, and the Arab Convention; the extent of the agreements’ success in attaining their goals; the procedural aspect of arbitration of investment disputes; issues that interfere in the enforcement of arbitration rulings; the enforceable law for arbitration of international investment disputes; and the role of national judiciaries in the control and implementation of rulings.