27 Nov 2017
On October 31, 2017 the DIFC DRA signed a memorandum of understanding with the Hangzhou Arbitration Commission, creating a partnership to work on meeting the future needs of e-commerce dispute resolution and best practices with customer service excellence.
Highlights from the speech by Mark Beer, OBE, Co-Chief Executive & Registrar General of DIFC Courts “Solving the E-Commerce Conundrum: Why Connecting Dispute Resolution Centres along the Cyber-Belt and Road Is Critical to Securing Trust in Globalised e-commerce” at the 2nd Global Cross –Border e-commerce Summit in Hangzhou.
China’s President Xi Jinping declared that the One Belt, One Road initiative is not just about trucks, trains and planes – it is also a powerful way of reshaping global commerce in cyberspace through harnessing innovation and amplifying connectivity, referencing the term “Cyberspace Connectivity”. Should that not apply to the world’s courts and arbitration centres?
The world has entered the 4th industrial revolution and now the Silk Road of the next century will be digital. The Digital Silk Road will multiply connections and networks of connections across the world. It will improve the lives of all people. It will break down artificial barriers and allow everyone, including the poorest in our communities, to participate actively in a world of e-commerce.
Hangzhou is taking the lead in Asia, as the Courts of the Internet –and Dubai’s DIFC Courts is the Courts of the Future.
Trust is a major stumbling block – Does the world trust e-commerce? Yes or No? The trust deficit will hold back global e-commerce, especially at the micro-transaction level, purchases under 50 USD.
As we in Dubai and Hangzhou advance with the creation of our future cities, we must also think ahead for future businesses, and evolve our dispute resolution services. We need to ensure our courts and arbitration centres are fit for our future.
“Here in Hangzhou we have taken one step towards our goal of global connectivity of dispute centres through the signing of a memorandum of cooperation between the DIFC’s Dispute Resolution Authority – which oversees the DIFC Courts – and the Hangzhou Arbitration Commission. We have many more steps to go, but I am confident that the partnership that we have cemented here today is a compelling example of how we can act in concert to collaborate, connect and make the world a more secure place to live, work, trade and innovate.” says Mark Beer, OBE, Co-Chief Executive and Registrar General, DIFC Courts.
To read the press release: “DIFC Dispute Resolution Authority and Hangzhou Arbitration Commission forge alliance to develop e-commerce dispute resolution”
To participate in the Courts of the Future & comment on the Pt 40,000 Founding Principles:
http://www.courtsofthefuture.org/part-40000-principles/
Interesting facts:
