The Singapore International Arbitration Center (SIAC) recently announced that it has entered into a memorandum of understanding (MoU) with ADGM, the international financial center of the UAE’s capital, Abu Dhabi. This partnership builds upon the MoU that SIAC signed with the Abu Dhabi Global Market Arbitration Center (ADGMAC) in 2021.
Under the agreement, SIAC and ADGM will promote international arbitration as a preferred method of dispute resolution for resolving international disputes. The two entities will also explore the possibility of SIAC establishing a presence in ADGM and other collaborative initiatives, including jointly organizing conferences, seminars, and workshops on international arbitration in Abu Dhabi and Singapore.
SIAC and ADGM will also explore possible arrangements for preferential rates for SIAC arbitration hearings in Abu Dhabi, and ADGM arbitration hearings in Singapore.
Gloria Lim, CEO of SIAC, and Linda Fitz-Alan, registrar and chief executive of the ADGM Courts, signed the MoU on October 28 in conjunction with the 15th Abu Dhabi-Singapore Joint Forum.
As ADGM celebrates its 10th anniversary, it seeks to reinforce its position as a vibrant business hub, attracting companies from around the world who seek top-tier expertise and some of the brightest talent in the financial sector.
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The partnership with SIAC reinforces ADGM’s global reach and its key role in shaping global financial trends. The recent launch of its new branding also emphasizes ADGM’s role as a vital connection between East and West, creating an exceptional environment for business success.
Since its inception in 2015, ADGM has been instrumental in diversifying Abu Dhabi’s economy by nurturing sectors such as technology, finance, and sustainability.
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