(MENAFN- The Peninsula) QNA
Doha, Qatar: The GCC Commercial Arbitration Centre held a celebration in Manama on the occasion of the 30th anniversary of its founding, under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of the Kingdom of Bahrain, and in the presence of H E Sheikh Khalid bin Abdullah Al Khalifa. Deputy Prime Minister of the Kingdom of Bahrain, and Dr. Saleh bin Hamad Al Sharqi, Chairman of the Board of Directors of the Gulf Commercial Arbitration Center, where the State of Qatar chairs the Center in its current session.
Al Sharqi said in his speech at the ceremony that the GCC Commercial Arbitration Centre has been able, over the past thirty years, to confirm and consolidate its existence as a leading and independent institution in the field of commercial arbitration regionally and internationally, despite all the challenges it has faced, thanks to the belief of its administrators and supporters in the nobility of goals and the lofty objectives, which are goals based on... To establish the values and principles of justice, neutrality and honesty to achieve the goals that we all seek in order to achieve the directives of our wise leadership in the Gulf Cooperation Council countries, and to achieve the aspirations of the citizens of the Gulf Cooperation Council countries to achieve real, comprehensive and sustainable economic development.
Al Sharqi pointed out the importance of the role of the GCC Commercial Arbitration Centre in supporting the economy in the GCC countries by providing and achieving an attractive, stable, and most trustworthy legal investment climate between the parties to the commercial relationship, considering that arbitration is the most effective means of settling and resolving commercial disputes between disputing parties in the shortest time.
Al Sharqi stressed that the GCC Commercial Arbitration center's strategy, since its founding thirty years ago, has placed at the top of its priorities contributing to creating a safe and stable investment climate in the Gulf Cooperation Council countries, which gains the trust of business owners.
He added that based on that strategy and believing in the importance of keeping pace with modern developments, the center sought to develop arbitration rules in a manner that It is consistent with the latest international practices and standards, while developing and expanding the center's range of services to include new services that keep pace with and meet developments and needs.
The Chairman of the Board of Directors of the GCC Commercial Arbitration Centre added that the Center is currently going through a new phase of work and giving and achieving more aspirations in embodying the goals of sustainable development, expressing his appreciation to the Kingdom of Bahrain for hosting the Center since its founding thirty years ago and for its continued support.
For his part, H E Khalid bin Ali Al Sunaidi, Assistant Secretary-General for Economic and Development Affairs at the General Secretariat of the Cooperation Council for the Arab States of the Gulf, stressed that the GCC Commercial Arbitration Centre is a living model of effective cooperation between sister countries, which has earned it success in facilitating and settling commercial disputes, through While building on his strong legacy that reflects the common vision of strengthening the rules of justice and achieving economic integration in the GCC countries.
For his part, H E Dr. Kamal bin Abdullah Al Hamad, Secretary General of the GCC Commercial Arbitration Centre, announced the strategic transformation plan that the center will implement through a set of measures aimed at enhancing the efficiency of arbitration practice and its governance, leading to the center assuming the position Prestigious among the top 10 arbitration centers in the world.
He also indicated the center's keenness to adopt the latest technologies and harmonise them with the work approach to enhance performance, such as artificial intelligence techniques, and provide the necessary infrastructure and information technology to facilitate arbitration procedures.
Then, H E Sheikh Khalid bin Abdullah Al Khalifa, Deputy Prime Minister of the Kingdom of Bahrain, kindly launched the Center's website in its new form, which is an electronic arbitration platform, the first of its kind in the region, with the arbitration services it provides that would facilitate the litigation process and procedures. Between related parties.
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