The Qatar International Court and Dispute Resolution Centre (QICDRC), Qatar’s world-class specialised civil and commercial court, and the International Centre for Settlement of Investment Disputes (ICSID), the world’s leading institution devoted to international investment dispute settlement, today signed a Cooperation Agreement in Doha, Qatar. ICSID is one of the five organizations of the World Bank Group.
The Cooperation Agreement, which was signed by QICDRC’s CEO, Faisal Rashid Al-Sahouti, and ICSID’s Secretary-General, Meg Kinnear, encourages cooperation and knowledge sharing in the field of arbitration and alternative dispute resolution.
The MoU signing ceremony took place on the side-lines of a seminar hosted at QICDRC’s premises, where Ms. Kinnear provided an overview of ICSID with a special focus on the MENA region. The seminar was attended by members of the local legal community as well as court staff members.
Commenting on the Cooperation Agreement, Mr. Al-Sahouti said: “This new partnership will catalyse the dissemination of knowledge between our court and ICSID in the areas of arbitration, conciliation and other alternative methods of dispute resolution. The cooperation agreement is of great importance as it allows us to continue our growth and expansion plans to establish the Court as a regional and international hub for dispute resolution.
He added: “QICDRC seeks to activate the mechanisms of enforcement of judicial decisions at the international level. It is well known that adherence to the rule of law at the international level requires a lot of work and cooperation between States and international institutions that believe in the importance of strengthening the rule of law.”
He added: “Our aim is to provide a global model for an effective judicial system which adopts international best practices in arbitration and dispute resolution to advance Qatar’s profile as an advocate for the rule of law.”
Ms. Kinnear said: “International investment arbitration is increasing around the globe, including in the Middle East. We are delighted to have this opportunity to discuss the ICSID system with practitioners in the legal community of Qatar and to enter into a cooperation agreement with the Qatar International Court.”
Under the new agreement, QICDRC and ICSID will be able to conduct all or any part of arbitration proceedings at the seat of the other centre. Each party will also benefit from prioritised access to the facilities and services offered at each organisation including the use of meeting rooms, office space as well as interpretation and translation services.
Through the newly established partnership, both parties will aim to promote the wider use of arbitration and mediation, and facilitate the exchange of information on alternative dispute resolution methods.
The Cooperation Agreement is the latest step in Qatar International Court’s efforts to provide an effective and fast delivery of justice through its renowned legal framework which contributes to the overall vision of developing a trusted and safe business environment in Qatar.