RIYADH: The Saudi Ports Authority, MAWANI, announced the signing of a memorandum of understanding with the Saudi Center for Commercial Arbitration on Sunday.
Considered a transformational step for Saudi ports, the agreement serves to establish a framework for coordination, provide alternative means for settling disputes that arise between the various facilities engaged in maritime transport activities and ports, and define a methodology for cooperation between the two parties.
The agreement plays an essential role in achieving the authority’s objectives of developing maritime transport and import/export operations, enhancing the capabilities of member ports, and contributing to the national economy.
It also contributes to SCCA’s endeavor to develop national ADR capacities by providing ADR services, legal training, and awareness events leading towards creating a safe environment that attracts both foreign and domestic investment to the Kingdom.
MAWANI and the SCCA agreed to strengthen communication and cooperation, develop alternative practices for and facilitate the settlement of commercial disputes, and raise awareness of these frameworks among establishments engaged in maritime transport and port activities.