Historic opening of arbitration centre set to advance Palestine/Israel commercial dispute resolution

19 December 2013

   

Israeli and Palestinian business leaders joined the leadership of the International Chamber of Commerce (ICC) in Jerusalem today to inaugurate the first dedicated Israeli-Palestinian centre for the resolution of commercial disputes between businesses in Palestine and Israel.

John Beechey, President of the International Court of Arbitration® of the International Chamber of Commerce, Andrea Carlevaris, Secretary General of the International Court of Arbitration® of the International Chamber of Commerce and Jean-Guy Carrier, ICC Secretary General were in Jerusalem to witness the historic launch of the Jerusalem Arbitration Centre (JAC) and the signing of a memorandum of engagement.

Until now, companies have relied on a mechanism provided by the Oslo Accords, signed by the Palestinian Liberation Organization and the State of Israel in 1993, to resolve Palestinian-Israeli civil disputes. However, as this mechanism involves governments, case work is often stalled by political and security related issues in both jurisdictions.

Samir Hulileh, Vice-Chairman of ICC Palestine said: “We believe that the arbitration mechanism will provide a decent and internationally respected means to resolve commercial disputes in the hopes to enhance fair bilateral trade between Palestine and Israel. We are confident that the JAC initiative will help support the political efforts by US Secretary of State John Kerry to resolve the conflict, as only a political solution can unleash the full potential of an economic revival in the region and bring long- term benefits to the legal profession in the region.”

The ability to resolve commercial disputes peacefully has been a core activity of ICC since it created the International Court of Arbitration 90 years ago, in consonance with the organization’s steadfast mission to facilitate international commerce as a source of peace and prosperity.

Following the official signing of a tripartite JAC agreement, Mr Shachor and Munib Masri, Chairman of ICC Palestine will be presented with the ICC Merchant of Peace Award in recognition of their contributions to the creation of the Centre.
 
“The founders of ICC called themselves Merchants of Peace, because they believed that trade and investment foster peace and prosperity. Oren Shachor and Munib Masri have worked to create the Jerusalem Arbitration Centre, for the peaceful resolution of disputes, in the spirit of true Merchants of Peace. This highest award given by ICC recognizes their contribution to peace and prosperity in this region and in the world.”


 

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