Global trade disputes value at $31bn: Sheikh Thani

Sheikh Dr. Thani bin Ali Al Thani, member of the International Court of Arbitration of the International Chamber of Commerce (ICC), said that the value of trade disputes submitted to the court reached $31bn last year, according to statistics released by the ICC Court.

He pointed out that cases filed in 2017 involved 2,300 parties from a record 142 countries, noting that the number of arbitration requests reached 810 disputes.

Sheikh Dr. Thani noted that arbitration requests included cases of extraction of primary materials and natural resources, power generation, heavy industries, construction, food industries, pharmaceuticals and insurance.

With a global network of over 6 million members in more than 100 countries, ICC work to promote international trade, responsible business conduct and a global approach to regulation through our unique mix of advocacy and standard setting activities – together with market leading dispute resolution services.

Back to top button