Umm Al Quwain, United Arab Emirates; 13 February 2023: Umm Al Quwain Free Trade Zone (UAQFTZ) and the Dubai International Financial Centre (DIFC) Courts have signed a Memorandum of Understanding (MoU) to enhance cooperation between the two parties and provide an opportunity to exchange information and provide awareness to businesses in Umm Al Quwain Free Trade Zone regarding the suite of public services provided by the DIFC Courts.
In addition to giving businesses operating in the UAQ Free Trade Zone access to a highly effective legal system, the MoU aims to create a framework for collaboration between the two organizations to support the UAE business community, making the Zone more attractive for trade and investment.
“We are pleased to sign an MoU with the DIFC Courts. This association is a significant step forward for the UAQ Free Trade Zone as it demonstrates our commitment to providing a business-friendly environment for our clients, working together and collaborating, especially in the field of Wills registration, as agreed upon in this partnership. The DIFC Court's reputation for fair and transparent solutions will provide added confidence for businesses looking to invest in the zone," said Mr. Johnson M. George, the General Manager of the UAQ Free Trade Zone.
His Excellency Justice Omar Al Mheiri, Director, DIFC Courts, said: “The DIFC Courts is honoured to enter this agreement with Umm Al Quwain Free Trade Zone. We remain confident our existing and unique services can contribute to the overall value proposition for businesses and see this cooperation agreement as another step towards creating greater awareness to residents and investors in the Emirate of Umm Al Quwain.
As well as dispute resolution services for large commercial and civil disputes through our specialised Divisions, the DIFC Courts also offers resolution of smaller disputes through the Small Claims Tribunal. Ancillary services such as the Wills Service and the new ‘tejouri’ digital vault provide users with a depth of options tailor built to address the needs of not only individuals, but also small and large businesses.”
The two parties further agreed on the importance of launching awareness campaigns aimed at the business community, as well as promoting the services provided by both parties, whilst providing each other with statistics, publications, periodicals, indications, laws, and regulations governing their public services for the benefit of the end-users.
Established in 2004, the DIFC Courts is Dubai’s international English language common law judicial system and forms a key part of the legal system of the United Arab Emirates (UAE). It was established with the specific objective to enable the international community in the UAE to have greater confidence in the Emirate’s legal framework and to further strengthen investment and trade relations with Dubai and the UAE.
The UAQ Free Zone has been actively expanding its service offerings by forming strategic alliances with a number of reliable business partners to increase investor-friendliness.