ISLAMABAD: The Islamabad Chamber of Commerce & Industry in collaboration with M/s. Bin Nakhira & Partners UAE and ANZ Partners Pakistan organized na informative session on “Protecting Investment and Arbitration in UAE”. Barrister Aqeel Malik briefed the business community about the background and role of M/s. Bin Nakhira & Partners of UAE. He said that Bin Nakhira & Partners is a litigation powerhouse in the UAE founded by an eclectic team comprising of His Excellency Bin Nakhira, former UAE Minister of Justice and Attorney General, Dr Abdul Wahab Abdool, former Chief Justice of the UAE Federal Supreme Court, and Mahmoud Abuwasel, a Harvard graduate practitioner. He said the Law Firm was representing private and public sector parties in various industry-wise contentious matters. It was assistting in pre-trial, trial, and enforcement strategy, providing direct representation up to the Federal Supreme Court, advising on jurisprudence relating to complex questions of law, and assisting as co-counsel.
Speaking at the occasion, Mr. Fernando Ortega of Bin Nakhira & Partners, UAE said that over 1000 Pakistani companies have invested in UAE and they were considered an important force there. He said that Pakistani investors interested to do business in UAE should understand how to protect investment in UAE to avoid complications and problems. He then gave a detailed presentation on protecting investment and arbitration laws in UAE. He said that Pakistan companies should have arbitration clause in their contracts to take benefit of this mechanism for disputes resolution. Mr. Nabeel Rehman of ANZ Partners, Pakistan also gave a presentation on enforcement and implementation of foreign arbitral awards in Pakistan.
Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce & Industry in his address thanked the UAE law firm for briefing business community about the mechanism of investment protection and arbitration in UAE. He said that the Government of Pakistan has also taken many initiatives for the facilitation and protection of foreign investors. He said due to good investment policies of Pakistan, many foreign investors including investors of UAE are doing successful business in Pakistan. He said that CPEC has started a new chapter of promising business and investment opportunities in Pakistan. He said that UAE-based Law Firm has frequent interactions with businessmen and investors in UAE and it should play role for encouraging more investors of UAE to explore Pakistan for joint ventures and investment in CPEC and in other promising sectors of Pakistan’s economy. He assured that ICCI would always be ready to help the foreign investors in JVs and investment in Pakistan.–
