Both parties have agreed to pool expertise on the legal certainty, protection and contract enforcement needed for investors to secure participation in China’s $5 trillion BRI.
The DIFC's judiciary authority and University of Oxford China Centre have signed a preliminary agreement, under which the two parties will look at how to protect large-scale investments by linking the belt and road initiative (BRI) countries and the world’s court systems. They will explore the development of judicial systems relevant to the investment opportunities created by the BRI.
Through joint projects, such as research and reports, the collaboration aims to enhance understanding of the legal and regulatory challenges faced by businesses and courts in the BRI belt, and to pave the way for effective dispute resolution and enforcement of court judgments along BRI’s trade routes.
According to a statement released by DIFC courts, as investment flows into the BRI region, it becomes ever-more urgent to find practical solutions to enable contracting parties to solve complex commercial conflicts.
BRI needs to find ways in which judgments and awards issued from each BRI country can be enforced in other BRI countries, and gathering such knowledge is only the first step hopefully to legal convergence of some degree within the BRI region
As BRI poses a great foreign investment opportunities, reliable, fast and transparent commercial dispute resolution is a key decision-making factor for investors as it fosters business confidence and legal certainty.