Trade ties strengthened with Dubai
Legal and trade relations between Dubai and the UK will be strengthened through a Memorandum of Guidance (MoG) signed in London on 23 January.
This brings together the Dubai International Financial Centre (DIFC) Courts — the leading English-language commercial court in the Middle East — and the Commercial Court of England and Wales, the world’s leading Commercial Court.
Dubai in the United Arab Emirates (UAE) is now widely recognised as the investment and business hub of the Middle East.
The MoG is designed to assist investors, businessmen and lawyers in the UK who wish to develop closer trade and investment links with the Emirate — and vice versa.
The Memorandum clarifies existing arrangements between the two courts, defining such issues as the mutual enforcement of judgments, in accordance with principles and practices set out in detail in the document.
It accordingly reflects the historic trade and industry links between the UK and the UAE, while reinforcing a shared commitment to providing the highest standards of commercial justice.
Mr Justice Cooke, Judge In Charge of the Commercial Court, said: "A surprising number of people today are unaware of the reciprocity between courts. While reiterating the existing relationship between DIFC Courts and the Commercial Court in London, the MoG sets out the basis upon which judgments of one court can be enforced in the other and helps to engender an atmosphere in which business can flourish."