Riyadh, September 10, 2023, The Saudi Center for Commercial Arbitration (SCCA) wrapped up its inaugural participation in this year's "China Arbitration Week," where SCCA held two seminars in Beijing and Shanghai and signed an agreement with the China International Economic and Trade Arbitration Commission (CIETAC) to improve relations with important arbitration centers abroad. The SCCA held its first seminar, Saudi Arabia: The Safe Haven for International Arbitration, in collaboration with the Saudi Embassy in China. The second seminar, titled "Present and Future: The Development of Dispute Resolution in China and Saudi Arabia," was held in Shanghai in association with the Shanghai International Arbitration Center. Key representatives from SCCA and a group of lawyers, specialists, and arbitrators from China and abroad discussed the most recent advancements in commercial arbitration and alternative dispute resolution in the Kingdom throughout both sessions. They also emphasized the Saudi legal system's acceptance of arbitration and conformity with global best practices.
Dr. Hamed bin Hasan Merah, CEO of SCCA, emphasized the significance of these seminars in the context of expanding trade and investment between Saudi Arabia, China, and the Middle East region, positioning SCCA as a significant option for dispute resolution due to its global outlook, alignment with best practices, independence, regional presence, and comprehensive understanding of the region.
Prof. Georges Affaki, a member of the SCCA Board, emphasized how Saudi Vision 2030 and China's Belt and Road Initiative are well aligned, noting how both nations' political stability and economic power strengthen investment ties in a variety of areas.
The number of arbitral rulings that have been upheld in Saudi Arabia is significant, according to Christian Alberti, Chief of Alternative Dispute Resolution (ADR), and sends a strong statement in favor of arbitration. Recent case studies conducted by the SCCA have shown that the Saudi Arbitration Law's Article 50(1) grounds for annulment are applied strictly and consistently.
A significant annual event that draws the nations of the world together is China Arbitration Week. It is comparable to other events held by significant international organizations in the sector, including London International Disputes Week, Paris Arbitration Week, Dubai Arbitration Week, and the recently introduced Riyadh International Disputes Week, the first edition of which SCCA has scheduled for March 2024.
