Enforcement Of Arbitration Awards Within The Framework Of The World Trade Organization" A Seminar At The Ajman Chamber

Date: 26/06/2024


Enforcement Of Arbitration Awards Within The Framework Of The World Trade Organization" A Seminar At The Ajman Chamber

The Ajman Chamber of Commerce and Industry (ACCI), in collaboration with the General Secretariat of the Executive Council, organized a legal seminar entitled "Enforcement of arbitration awards within the framework of the World Trade Organization." This event falls within the Ajman Chamber's ongoing series of legal seminars aimed at enhancing legal awareness, acquiring knowledge, and developing legal skills to support the business environment in the Emirate. The seminar was presented by Dr. Muhammad Obeid, a legal consultant at the General Secretariat of the Executive Council and an expert on World Trade Organization agreements. A number of government officials, business owners, entrepreneurs, and legal professionals participated in the seminar. The seminar was inaugurated by Aisha Al Nuaimi, the Acting Director of the Legal Affairs Department at the Ajman Chamber, emphasizing the Ajman Chamber's commitment to enhancing legal and commercial awareness regarding the significance of arbitration as a cornerstone of dispute resolution mechanisms and the various aspects of enforcing arbitration awards, with the goal of empowering private sector establishments to safeguard their interests and adapt to the rapidly evolving business environment and market dynamics. Al Nuaimi stated that the Ajman Chamber is committed to promoting arbitration culture among legal professionals and business owners through specialized seminars, courses, and training programs. She believes that the enforcement of arbitration awards within the framework of the World Trade Organization (WTO) is a critical issue for companies operating internationally. Therefore, the seminar aims to provide a platform for the exchange of expertise, ideas, and best practices. During the seminar, Dr. Muhammad Obeid elaborated on the UAE's supportive role in the WTO's dispute settlement system. He also discussed the fundamental principles of the WTO's dispute settlement procedures, arbitration as the cornerstone of the dispute settlement system, the various methods of enforcement of arbitral awards, including compliance, compensation, authorization to take countermeasures, and compulsory enforcement. Additionally, he addressed the current state of reform of the dispute settlement system in light of the WTO's Abu Dhabi Ministerial Declaration issued last March." The seminar addressed a range of models related to the enforcement of arbitration awards issued by arbitration authorities within the framework of the WT). It discussed various challenges and solutions, legal and regulatory frameworks governing the enforcement of awards, and how to leverage these frameworks to promote international trade and support the local economy.