The New Qatar Arbitration Law No. (2) of the year 2017 (Pros and Cons)
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The Qatari economy is considered as one of the most dynamic and fastest-growing economies in the world. Consequently, the State of Qatar has become one of the main countries attracting foreign investors. This is indeed the outcome of the efforts made to adjust the national laws in order to meet the needs of international investors and to modernize the economy to achieve the Qatar National Vision 2030. It is expected that FIFA World Cup 2022 will be an impetus to realize this vision. Under these circumstances, Qatar had to adopt a new perspective on arbitration as an alternative means to settle disputes and to keep pace with international economic developments. This initiative was accelerated with the ratification of “The New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards” and made part of the Qatari legal system by the Amiri Decree No. (3) of the year 2003. Moreover, many countries around the world are adopting the UNCITRAL Model Law on International Commercial Arbitration (1985); along with the amendments adopted in 2006. The United Nations called upon its member states to take into account this model law when passing national legislation. Many countries adopted -fully or partially- the provisions of the UNCITRAL model. In this respect, some questions may be raised: Did the New Qatar Arbitration Law No. (2) of the year 2017 answer the call of the United Nations? Does the new law adopt new trends of the rules governing the international commercial arbitration? Would this new law attract investors as per Qatar national vision? What are the manifestations of the new arbitration perspective in the new law compared to the repealed arbitration rules?
- 2017 - Volume 2017 - Issue 2 [11 items ]