The countries in the Middle East and North Africa (MENA) are neighbors and strategic partners of Europe and important export-, transit-, and project-markets for German and international business. They are facing big challenges in terms of political and systemic structures, economic development and diversification as well as regarding cultural and societal issues.
The legal frameworks of these countries are facing the challenge to keep the pace with these developments, the business being especially challenged as it is particularly interlinked with the international business law. Particularly in the countries of the Persian Gulf a particularly codified and adapted European Civil Law system is competing with an increasingly dominating Anglo-Saxon Common Law based legal system.
In addition to that Islamic-legal traditions, regulations and law (especially in the banking and financing sector, insurance law, law of contract, company law, project finance, ADR.) play an increasingly important role.
The “Arab Spring” and its aftermath brought to light issues of International Public Law with an impact also on business transactions (e.g. dealings with failing states and non-state actors, investment protection, force majeure etc.).