Moscow: The Bahrain Chamber for Dispute Resolution (BCDR) and the Russian Arbitration Center (RAC) at the Russian Institute of Modern Arbitration have signed a Memorandum of Understanding (MoU) to enhance their international arbitration capabilities. The agreement was formalized during the Russian International Arbitration Congress held in Moscow.
According to Bahrain News Agency, the MoU was signed by Professor Marike Paulsson, Vice Chairperson of the BCDR Board of Trustees, and Yulia Mullina, CEO of the Russian Arbitration Center, at the center's Moscow offices. The collaboration is set to fortify arbitration efforts through joint conferences, seminars, and workshops in both Bahrain and Russia.
The MoU outlines the exchange of expertise and encourages involvement from each party's local arbitration communities. It aims to facilitate participation in events hosted by the other, including those organized by the Russian Arbitration Center in Bahrain and by BCDR in Russia.
Marike Paulsson stated that the partnership highlights BCDR's dedication to improving the global arbitration landscape. She emphasized that the combination of resources and expertise could lead to improved services for the international business community.
Yulia Mullina remarked that the agreement marks a significant step for the Russian arbitration community. She expressed optimism for a cooperative relationship that would promote the exchange of knowledge and best practices, benefiting all stakeholders involved in international arbitration.