First GCC Law, Arbitration Week Kicks Off In Manama

(MENAFN- Kuwait News Agency (KUNA)) MANAMA, Jan 26 (KUNA) -- The first GCC Law and Arbitration Week kicked off on Sunday in Manama, Bahrain with the attendance of the Secretary General of the Gulf Cooperation Council (GCC) Jasem Al-Budaiwi at GCC Commercial Arbitration Centre (GCCCAC).
In his opening speech, Al-Budaiwi said that the opening of the First GCC Law and Arbitration Week embodied the commitment of the GCC Commercial Arbitration Centre (GCCCAC) to keeping pace with regional and international arbitration developments.
Al-Budaiwi said that this week is a golden opportunity to enrich information, share experiences and contribute to the deepening of legal knowledge in the field of arbitration, with the beneficial and significant discussions having a profound impact on achieving the objectives intended for it.
"The specific topics on the agenda for this week are important and worthy of discussion and study by participants due to their significance and impact on the conduct of arbitration in the Gulf Cooperation Council member states," he said.
On his part, Chairman of the GCC Commercial Arbitration Centre Saleh Al-Sharqi said in his speech that the basic strategy since the establishment of the Center has been to contribute to achieving a safe and stable investment environment that enhances mutual trust between business owners in the GCC countries.
He pointed out that the center is keen on keeping pace with modern developments in the field of arbitration, and its constant development and expansion of its services to meet the needs of changing markets and increase the comprehensiveness of the systems and regulations through which commercial arbitration is organized in the region.
He noted that the GCCCAC in the coming period will enter a new phase of work and achievements that are in line with the goals of sustainable development in the GCC countries, as it will seek to achieve more progress in strengthening economic partnerships at the regional and international levels.
He pointed out that this stage requires intensifying joint cooperation and enhancing governance practices that will ensure the sustainability of work and achieve the best results for all parties concerned.
On the other hand, The Secretary-General of the GCCCAC Dr. Kamal Al-Hamad said that in 1993 the leaders of the GCC countries in the Supreme Council issued their decision to establish the center, which is one of the bodies of the Gulf Cooperation Council, to be a regional judicial and arbitration body, so that "the dream of the leaders of the Gulf Cooperation Council countries becomes a reality with a process of continuous development and giving."
He pointed out that the Board of Directors has developed a strategic transformation plan for the center through a set of measures aimed at achieving the reform process and making it more predictable, accountable, responsible and governed, and enhancing the effectiveness of improving the quality of leadership and strategic planning.
The GCC Law and Arbitration Week will be held for five days with support of the Bahrain Tourism and Exhibitions Authority and with the support and participation of the legal publishing partner (LexisNexis), and a large number of international personalities in law and arbitration to support and localize the arbitration industry within the Council's member states, in addition to a number of experts and law professors worldwide. (end)
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