As the UAE has emerged as one of the economic powerhouses of the Middle East, increasing numbers of domestic and foreign parties have chosen to adopt arbitration as their dispute resolution mechanism of choice in the region. In recognition of this, the UAE Government has produced draft arbitration legislation, no doubt aimed at making the UAE a more attractive arbitral seat and place of enforcement.
In the attached article (published in the International Arbitration Law Review, [2012] Issue 2, published by Sweet & Maxwell) Herbert Smith Associate, Saloni Kantaria, analyses the proposed UAE Draft Federal Law on Arbitration and the Enforcement of Arbitral Awards. The article considers the impact the proposed law would have in enhancing the attractiveness of the UAE as an arbitral seat, but stresses that further amendments will need to be made to bring the proposed law in line with international best practice in terms of the recognition and enforcement of both domestic and foreign arbitral award.