UAE chairs the ACC Commercial Arbitration Center in 2020
Established in 1993, the Centre is an independent entity specialized in settling commercial disputes using arbitration. The Centre shall have the power to examine commercial disputes between GCC nationals, or between them and others, whether they are natural or juristic persons, and commercial disputes arising from implementing the provisions of the GCC Unified Economic Agreement.
The Secretary General of the ACCCAC pointed that last year the center received disputes with a value of $62.5 million, which reflects the increasing trust of businessmen and official entities in the awards of the center and their implementation in the GCC.
Being the Chairman of the ACCCAC, H.E. Al Mheiri pointed to the pivotal role of the center, expressing his determination to move forward towards achieving its comprehensive and strategic goals according to the wise vision of the GCC.
H.E. Al Mheiri pointed to the interest of the Abu Dhabi Chamber in contributing to the efforts of the center, especially that the Abu Dhabi Chamber has had established the first specialized center for national commercial disputes in the GCC region which is the Abu Dhabi Commercial Conciliation & Arbitration Centre.
Statistics show that since 2013, the ACCCAC and the ADCCAC have organized more than 40 joint events including eight specialized programs. More than 396 participants from the UAE and the GCC took part in these events.