John Martin St. Valery, Founding Partner, The Links Group, explains why the recent agreement between the DIFC Courts and Federal Court of Australia is positive for companies looking to enter the GCC.
With the signing of a Memorandum of Guidance between the DIFC Courts and Federal Court of Australia last week, another barrier to entering the UAE market has fallen.
This agreement is certainly a huge step forward as Australia and the UAE look to strengthen their economic ties, but should also send a vote of confidence to other incoming companies to the region that the UAE is committed to becoming a top global business hub.
The Memorandum of Guidance gives companies active in both the UAE and Australia the confidence that any commercial dispute which may arise can be resolved within an internationally accredited legal framework such as the DIFC Courts, which is also internationally binding.
To read the full article, please click on the following link http://gulfbusiness.com/2014/04/another-barrier-entry-falls/#.U0am7fmSwjI.