Abu Dhabi Arbitration Centre Signs Agreement with Takheem
Updated July 14, 2023
The Abu Dhabi Global Market Arbitration Centre, better known as ADGMAC, has signed an agreement with the Sharjah International Arbitration Centre (Takheem), for promoting commercial arbitration across the UAE and the wider region. This agreement is projected as a solution to effect cooperation between the two centres, and has been created with the objective of working together to bring accessibility, efficiency and effectiveness. These are the goals behind agreements signed by the ADGM with other arbitration centres, as per the description on the ADGM website.
The agreement might promote team work and prospects of a more efficient International Commercial Arbitration system. The Registrar and Chief Executive of the ADGM Courts, Linda Fitz-Alan and the Director of Tahkeem, Ahmed Saleh Al Echla, who signed the agreement, opine that this is part of a shared vision.
It has to be noted that the ADGM has signed multiple cooperation agreements with many important arbitration centres to promote the goals of accessibility, efficiency and effectiveness. The centres which have signed such frameworks for cooperation with the ADGM include AIAC, SIAC, CRCICA, EMAC, ICC, KCAB and arbitration centres of Russian, Saudi and Lebanese Nationality.