Dubai - The DIFC Courts, Dubai's established English-language, commercial common law judicial system, today signed a landmark enforcement document with their counterparts in the High Court of Kenya (Commercial and Admiralty Division) that further reinforces the UAE's position as an economic gateway to Africa.
The signing of the DIFC Courts' first Memorandum of Guidance (MoG) with an African country took place in the presence of His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture, Youth and Community Development, during the "Africa: Bridging the Gulf" conference in Dubai, organised by the Africa Legal Network
Dubai's non-oil trade with Africa has increased by 700 per cent over the last decade, according to the Dubai Chamber of Commerce & Industry. During that time, Kenya has emerged as a major hub for East Africa, with non-oil trade between Dubai and Kenya estimated to be worth AED4.5 billion in 2013, making the African country the emirate's 50th biggest trade partner.
The MoG adds an additional layer of certainty for companies operating in both the UAE and Kenya by defining for the first time the procedures for mutual enforcement of money judgments between the DIFC Courts and High Court of Kenya. The document was signed by Michael Hwang, SC, Chief Justice of the DIFC Courts, and Hon. Prof. Githu Muigai, the Attorney General of Kenya.
Chief Justice Hwang said: "With trade between Africa and the UAE at record levels, it is essential that international commercial courts work together to support the growing number of businesses operating across borders. This memorandum provides guidance on how the DIFC Courts and Kenyan Courts would enforce each other's money judgments, thereby giving additional clarity and certainty to investors and businesses active in both jurisdictions. Being the first we have signed with an African nation, this memorandum is a landmark document for the DIFC Courts and also indicative of Kenya's emergence as a major regional economy."
Hon. Prof. Githu Muigai said: "The UAE continues to be one of Kenya's leading bilateral trade partners. As trade between our two countries continues to flourish, it is important that our respective judicial systems support and protect cross-border commerce. The Kenyan Judiciary therefore welcomes the signing of the Memorandum of Guidance between the DIFC Courts and the Kenya Judiciary which will enhance understanding of judicial procedures for foreign judgment enforcement in our respective courts. It is our desire and belief that the co-operation demonstrated by signing this Memorandum of Guidance will improve understanding among the business community in both countries and enhance certainty and confidence in entering into cross-border contracts."
Since their jurisdiction was opened to businesses worldwide in October 2011, the DIFC Courts have established one of the world's strongest enforcement regimes. DIFC Courts' judgments can be enforced internationally through treaties such as the GCC Protocol and Riyadh Convention; treaties with China, and France; and reciprocal arrangements with many common law courts overseas, including the Commercial Court of England and Wales and Commercial Courts of Australia.
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About the DIFC Courts
The UAE's DIFC Courts administer a unique English-language common law system - offering swift, independent justice to settle local and international commercial or civil disputes. The Courts, based in Dubai, provide certainty through transparent, enforceable judgments from internationally-recognised judges, who adhere to the highest global legal standards. The DIFC Courts are independent from, but complementary to, the UAE's Arabic-language civil law system - offering a choice that strengthens both processes while ensuring public access to world-class justice.
In October 2011, a decree of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister of the UAE and Ruler of Dubai, opened the DIFC Courts' jurisdiction to businesses from all across the GCC region and beyond to provide the international business community with access to one of the most advanced commercial courts in the world.
The DIFC Courts were established under laws enacted by the late HH Sheikh Maktoum bin Rashid Al Maktoum, Ruler of Dubai in September 2004. The laws establishing the DIFC Courts are designed to ensure that the DIFC Courts provide the certainty, flexibility and efficiency expected by Court users. Nearly 500 cases have been resolved through the DIFC Courts since 2008, while over 90% of Small Claims Tribunal cases are concluded within three weeks. The Courts' community-focused approach encourages early settlement, while their successful track record supports Dubai's growing status as an international business hub.
In line with HH Sheikh Mohammed's vision, the DIFC Courts serve to develop the UAE national workforce and enhance the competitiveness of Emirati advocates. The DIFC Courts are spearheading training programmes predominantly aimed at local Emirati lawyers, which offer knowledge of, and qualifications in, the English-language common law system.
About The 2014 ALN Conference - "Africa: Bridging the Gulf"
The conference, entitled "Africa: Bridging the Gulf", was hosted by ALN (www.africalegalnetwork.com) and ALN's Dubai based regional office, AC&H Legal Consultants (www.ach-legal.com).
More than 100 Africa based senior executives, business owners and lawyers, together with over 200 UAE and GCC based senior business personalities and professionals, congregated at The Palace, Dubai, to discuss investment opportunities in a number of sectors including Energy, Banking & Finance, Oil & Gas, Future Emerging Cities of Africa, Hospitality, Private Equity and Commercial Property on the African continent. Leading business leaders and professionals, with deep experience of working in Africa, engaged in panel discussions and shared their collective and candid insights on the various challenges, opportunities, rewards and risks. Some of the speakers have been involved in the biggest deals on the continent; including the first USD$2billion sovereign bond in Kenya, Botswana and Kenya's largest energy projects, Malawi's largest mining project, a USD$14 billion oil and gas project in Nigeria, major hospitality and real estate projects and landmark energy transactions including, the 400MW Lake Turkana Project and new developments in solar energy.
The experts shared their collective wisdom to guide foreign investors on how to navigate a rapidly changing environment, while reducing risks and increasing returns on investments. The calibre of speakers attracted over 250 attendees from around the world, who all have one common substantial interest: Investing in Africa.
For more details on the conference please log on to www.africalegalnetwork.com/aln2014