Minister of Justice H E Masoud bin Mohamed Al Ameri (centre) receives an award from QICCA Board Member for International Relations Dr Sheikh Thani bin Ali Al Thani, as QC and QICCA Chairman Sheikh Khalifa bin Jassim Al Thani looks on, at the opening of the 4th World Conference on International Arbitration at The Ritz-Carlton, Doha, yesterday.
Qatar is moving forward in developing its judicial and arbitration systems according to the best international standards, while about QR9bn worth of arbitral awards have been issued in the country in the past two years, Minister of Justice H E Masoud bin Mohamed Al Ameri said yesterday at the opening of the 4th World Conference on International Arbitration being held under the patronage of the Prime Minister and Minister of Interior H E Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani.
The two-day conference which was organised by the Qatar International Centre for Conciliation and Arbitration (QICCA) at Qatar Chamber (QC) coincided with the announcement of QICCA’s new rules for conciliation and arbitration which are set to be issued in April, and the 5th anniversary of the issuance of Qatar’s Arbitration Law.
QC and QICCA Chairman Sheikh Khalifa bin Jassim Al Thani, QC’s First Vice-Chairman Mohammed bin Ahmed bin Towar Al Kuwari, and QICCA Board Member for International Relations Dr Sheikh Thani bin Ali Al Thani were also present during the event, in addition to a crowd of senior experts, international arbitrators and lawyers from Qatar and other countries.
Speaking under the theme ‘Impact of Arbitration on Achieving a Suitable Environment for Investment’, the Minister underlined Qatar’s continuous commitment in preparing a suitable environment for investments according to the United Nations Sustainable Development Goals.
He said Qatar is on foot to develop its legislative, legal, and judicial structure in accordance with the best international standards to achieve the rule of law and sustainable development, as well as to uphold the principles of justice and human rights by promoting community awareness of international commercial arbitration and disseminating its culture with local, regional, and international partners.
Al Ameri also pointed out that the Ministry has issued 41 arbitral awards in 2020, and 43 arbitral awards last year, with a total value of QR 9bn. QICCA had the largest share of the awards, he added.
He went on to reiterate that alternative ways for solving disputes, such as arbitration, are one of the most important means of attracting foreign investments to Qatar.
Underscoring Qatar’s interest in international commercial arbitration, the Minister noted that Qatar has issued Law No. 2 of 2017 promulgating the Civil and Commercial Arbitration Law, which was inspired by the UNCITRAL Model Law.
Also speaking during the event, Sheikh Khalifa highlighted that arbitration was an ideal means for settling disputes arising from international contracts, especially amid Qatar’s growing economic diversification.
He added that arbitration, which is a fast, fair, and secure way of solving disputes, achieves swift settlements and prevents damage to investments.
“Arbitration encourages foreign investments, as it removes fears from foreign investors on the slow pace of local litigation procedures and offers them a quick settlement of their disputes without causing any damage to their investments. Arbitration provides security and guarantees the rights of the investors. The more transparent the arbitration law in the host country for investments, the more attractive the country will be for foreign investments,” Sheikh Khalifa added.
He also referred to the Qatar Arbitration Law, which was issued five years ago, and said it ‘instills the principle of arbitration in solving disputes, especially amid the economic boom witnessed by Qatar, the increasing demand of major international companies to invest in the county, and the existence of major infrastructure projects or those that are related to the 2022 FIFA World Cup and other promising sectors for investment in Qatar’.
A total of 30 experts in the field of arbitration in Qatar and abroad will speak across eight panel discussions during the event, which will conclude today.
