UK set to host 2015 Global Law Summit
- Published on Monday, 07 October 2013 10:48
- Written by Sinead Fynes Black
The first ever UK Global Law Summit, showcasing Britain's unrivalled legal expertise, will take place in 2015, Justice Secretary Chris Grayling has announced.
Bringing together Government, legal professional bodies and business, the Summit will champion the UK as global leader in legal services and as the destination of choice for global business in the 21st Century.
In February 2015, international leaders in law will be brought together in London with the unique opportunity to commemorate, celebrate and debate 800 years of legal history, and encourage the development of relationships across markets and jurisdictions.
Secretary of State for Justice Chris Grayling said:
'The Global Law Summit 2015 will be a world class conference showcasing the UK's unrivalled legal expertise, based on a long history of freedom and justice.
'I am determined to help UK law firms and lawyers succeed in the global race and develop the business opportunities created by their world class reputation.
'We will be working with legal professional bodies and business to champion one of the UK's greatest exports, our legal system. The summit will also mark 800 years of the Magna Carta, a tradition that still provides the foundation for the best commercial and legal environment for business to flourish.'
Sir David Wootton, Co-Chair of the Global Law Summit Board and Lord Mayor of London 2011-12 said:
'I am delighted to co-chair the Board, alongside Henry Bellingham MP, for the Global Law Summit, which will be a key event in the 2015 international legal calendar. The year 2015 represents a unique opportunity to celebrate 800 years of legal history, and the Global Law Summit will be a fantastic way of showcasing the UK as a world leader in legal services and business, and promoting the Rule of Law.
'Working together with our partners, the Global Law Summit will be a world-class legal conference, which we are exceptionally proud to be hosting in our capital.'
Today in the UK we have an unrivalled mix of judicial expertise in the fields of finance, business and property. The judgment of a Court in Britain comes with a cast-iron guarantee of impartiality, integrity and enforceability. Coming to Britain and using English law is also the way leading international businesses choose to arbitrate disputes. Global business chooses English law more and more as the basis of their commercial contracts, frequently coming to the UK to resolve their disputes. As a result, doing business and resolving disputes in the UK is quicker and cheaper, saving business up to £1.4 billion a year. It is also quicker, with disputes resolved more rapidly – 2 months faster than the global average.
The UK financial services industry is the world's largest and most successful. The legal services that underpin that industry also have to be world class. The UK's legal sector was worth £20.9 billion or 1.6 per cent of the UK's gross domestic product in 2011. Legal qualifications obtained in the UK are also internationally recognised and valued, with around 14,500 international students currently studying law in the UK.