Dubai Chamber of Commerce has received a total of 75 mediation cases during H1 2023 which mutually agreeable settlements were reached in 35 of them, representing a success rate of 46.7%.

 

The combined value of mediation cases received during the first half of 2023 reached AED42.3 million ($11.5 million). The 35 cases that were resolved had a total value of AED20.8 million, underlining the importance of the chamber’s mediation services to its members and the private sector in the emirate.

 

The mediation cases received by the chamber in H1 2023 originated across multiple industries, with the food sector accounting for 28% of total cases. This was followed by construction at 22% and shipping services at 15%.

 

Essential tool

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “Dubai Chambers remains committed to protecting the interests of the private sector and the emirate’s dynamic business community. Our mediation services represent an essential tool that enhances the competitiveness of the local business environment and the ability of companies to overcome a wide range of challenges. The business community's use of these services reflects the level of awareness on the importance of settling disputes amicably to serve the interests of all parties.”

 

Lootah added that Dubai Chamber of Commerce has proven expertise in assisting private sector companies in resolving their commercial disputes across diverse industries while maintaining their trading relationships to protect their interests and investments. He highlighted the chamber’s virtual mediation service, which saves time and effort for all the parties involved and supports Dubai's digital transformation vision to serve customers more effectively and with greater efficiency.

 

As representatives of Dubai Chamber of Commerce, mediators are not authorised to adjudicate disputes. Their role is to serve as facilitators who bring the parties together, helping them reach an agreement and resolve their dispute without costly and time-consuming legal action.-- TradeArabia News Service