Arab Today, arab today difc courts support fastgrowing uaekazakhstan business ties
Last Updated : GMT 05:58:16
Arab Today, arab today
Arab Today, arab today

DIFC Courts support fast-growing UAE-Kazakhstan business ties

Arab Today, arab today

Arab Today, arab today DIFC Courts support fast-growing UAE-Kazakhstan business ties

Michael Hwang (L)
Abu Dhabi - WAM

UAE-Kazakhstan business ties were yesterday boosted by the signing of a cooperation agreement between the DIFC Courts and Supreme Court of the Republic of Kazakhstan. The Memorandum of Guidance (MoG) provides businesses operating in both countries with additional certainty should a contractual dispute arise by clarifying the procedures for the mutual enforcement of money judgments.

Commercial links between the two countries have expanded significantly in recent years, with around $3 billion of UAE investment estimated to be currently deployed in Kazakhstan. With a new financial free zone planned for Astana, Kazakhstan's capital, trade flows are anticipated to accelerate further over the coming years.

Michael Hwang, Chief Justice of the DIFC Courts, said: "The UAE and Kazakhstan occupy strategically important positions within the Middle East and Central Asia. Enabling trade and investment between the regions are financial hubs such as the Dubai International Financial Centre and the one that will be soon established in Astana. With commerce becoming ever more global, it is imperative that judicial systems connect to support the needs of businesses, such as by formalising how money judgments are mutually enforced. We look forward to working with the Supreme Court of the Republic of Kazakhstan to support this increasingly important channel of international trade."

The Supreme Court of the Republic of Kazakhstan is the highest judicial body of the Republic of Kazakhstan. In addition to clarifying enforcement procedures, the MoG also sets out the intention of the two judiciaries to cooperate on training and educational initiatives.

Kairat Mami, Chairman, Supreme Court of the Republic of Kazakhstan, said: "Today the relations between Kazakhstan and the UAE are developing intensively in many areas of economy and culture. It is gratifying to note that active partnerships are also being built in the judicial sphere. The official visit of the delegation of Kazakhstan judges to the UAE happened this year during which they familiarized themselves with the work of the DIFC Courts. Today, on behalf of the President of the country Nursultan Nazarbayev within the framework of the Plan of the Nation "100 concrete steps" the same international financial centre is being created in Astana. This will greatly enhance the investment activity and trade in the region with access to international markets. In this context, information and developments of DIFC, including the organisation of the courts are of big importance to Kazakhstan. I am sure that the exchange of experiences and knowledge between the Supreme Court of the Republic of Kazakhstan and the DIFC in the future will only increase and develop new topics for fruitful cooperation. This will fully contribute to the memorandum signed by us. "

"The relationship between our two countries goes deeper than simple trade and commerce and is increasingly characterised by the sharing of knowledge. We are delighted to sign this memorandum with the DIFC Courts, which further strengthens the relationship between our two countries."

Since their jurisdiction was opened to businesses worldwide in October 2011, the DIFC Courts have established one of the world's strongest enforcement regimes. Their judgments can be enforced internationally through treaties such as the GCC Protocol and Riyadh Convention; treaties with China and France; and arrangements with many common law courts overseas, including the Commercial Court of England and Wales, the Supreme Court of Singapore, and the United States District Court for the Southern District of New York.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today difc courts support fastgrowing uaekazakhstan business ties Arab Today, arab today difc courts support fastgrowing uaekazakhstan business ties

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday