On November 12, the Russian Arbitration Association (RAA) and the Dubai International Arbitration Centre (DIAC) signed a Memorandum of Understanding aimed at strengthening long-term cooperation and developing international arbitration and other methods of dispute resolution.
The signing ceremony took place in Dubai, with members of RAA and RAA25 in attendance. During the event, participants were introduced to the distinctive activities of DIAC in the region and engaged in discussions on future cooperation.
The Memorandum provides for collaboration and mutual support in promoting alternative dispute resolution (ADR) within professional and business communities, as well as in enhancing the recognition of international arbitration as one of the most effective tools for dispute settlement.
An important area of cooperation is the promotion of professional growth and training for ADR specialists, organization and hosting of joint events, and exchange of information and analytical materials.
The Dubai International Arbitration Centre (www.diac.com/en/home) is the largest alternative dispute resolution centre in the region. It is an independent, non-profit organization supporting arbitration, mediation, and other forms of alternative resolution of commercial disputes. The Centre was established in 1994 under the Dubai Chamber of Commerce and Industry (“Dubai Chambers”) and has operated independently since September 2021. Since its inception, DIAC has gained significant experience in managing arbitration cases, handling approximately 5,000 cases with a total value exceeding AED 80 billion (USD 21.8 billion). In 2022, new Arbitration Rules were introduced to improve the efficiency of arbitration procedures and meet the evolving needs of dispute resolution.
The Russian Arbitration Association (www.arbitrations.ru) is a non-profit organization established in April 2013 to promote the development of arbitration in Russia and the CIS countries; enhance the reputation of Russia as a place for arbitration; support Russian arbitrators at national and international levels; and raise the expertise of Russian lawyers in alternative dispute resolution. RAA operates on the basis of equal membership, currently comprising over 50 law firms and more than 20 individual arbitration specialists.
