Legal and trade relations between the UK and Dubai have been strengthened through a ‘Memorandum of Guidance’ (MoG) recently signed in London between the Commercial Court of England and Wales and Dubai’s International Centre Courts.
The Memorandum is the latest in a series of initiatives taken over the last 18 months to develop the DIFC Courts’ activities in support of international business in the region.
The new MoG is designed to assist UK-based, Dubai-based and regional investors, businessmen and lawyers to develop closer trade and investment links to the benefit of each other – by also emphasizing Dubai’s growing role as the region’s common law dispute resolution centre. In particular, the MoG clarifies existing reciprocal arrangements between the two courts, defining such important issues as the mutual enforcement of judgments.
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