The Memorandum of Understanding was signed between National Association of Construction Engineering Consultants (NACEC) and The Cairo Regional Centre for International Commercial Arbitration (CRCICA, Egypt) on April 17, 2016.
The Cairo Regional Centre for International Commercial Arbitration provides a series of specialized services associated with trading issues, development of laws, rules and work practices based on international investment contracts, as well as resolution of commercial disputes.
“Work at external markets is one of the priority business areas of NACEC partners and members. Development of a contract in accordance with the norms of international law is a great piece of work, that is why we are doing our best to give our members an opportunity to get duly professional advice at first hand” Gennady Sakharov, NACEC President, commented the MoU signed with CRCICA.
Taking into account joint perspectives and interests, the parties agreed to cooperate on a wide range of initiatives, which include information dissemination, arranging events, and networking activities to promote economic relations between NACEC and CRCICA partners. “Both organizations recognize the importance of cooperation and have a responsibility to encourage their partners to get involved in markets around the world” the MoU stipulates.
The MoU signing ceremony took part during the business conference of the International Federation of Consulting Engineers (FIDIC) entitled “The Challenges of the Egyptian Construction Industry and the Role of FIDIC”. The conference participants discussed the global perspectives of the Egypt construction industry, issues of regulating the relations between local employers and international companies, running business inside the country, and opportunities for extensive use of FIDIC standard forms of construction contracts. NACEC representatives also held a series of negotiations with the leading engineering companies - FIDIC members, having discussed the progress of bilateral projects and possible ways of cooperation.
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