Manama: 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.
According to Kuwait News Agency, Al-Budaiwi highlighted the week as a golden opportunity to enrich information, share experiences, and contribute to deepening legal knowledge in arbitration. He emphasized the importance of the specific topics on the agenda, noting their significance and impact on the conduct of arbitration in Gulf Cooperation Council member states.
Chairman of the GCC Commercial Arbitration Centre Saleh Al-Sharqi described the center’s basic strategy since its establishment as contributing to a safe and stable investment environment that enhances mutual trust between business owners in GCC countries. He mentioned the center’s commitment to modern developments in arbitration and its constant expansion of services to meet changing market needs.
Al-Sharqi also stated that the GCCCAC is entering a new phase aligned with sustainable development goals in GCC countries, aiming to strengthen economic partnerships at regional and international levels. He emphasized the need for intensified joint cooperation and enhanced governance practices to ensure sustainable work and achieve optimal results for all concerned parties.
The Secretary-General of the GCCCAC Dr. Kamal Al-Hamad recalled the 1993 decision by GCC leaders to establish the center as a regional judicial and arbitration body. He noted the Board of Directors’ strategic transformation plan aimed at reform and enhancing leadership and strategic planning effectiveness.
The GCC Law and Arbitration Week will span five days, supported by the Bahrain Tourism and Exhibitions Authority, LexisNexis, and numerous international law and arbitration figures. The event aims to support and localize the arbitration industry within the Council’s member states, featuring experts and law professors from around the world.