The Seminar titled an overview of the main arbitral institutions in Europe and their practices” which was organized by the Association of international Arbitration based in Belgium in cooperation with Gulf International Conferences Organizing Company.
Dr Fakhro in a speech said that the seminar was the first of its kind in the Kingdom of Bahrain and comes at the right time in conjunction with government’s efforts to make Bahrain a center for Commercial Arbitration in line with Bahrain’s position as a distinct economic and financial center in the region. In addition to spread commercial arbitration culture and enhance arbitration role as safe alternative way in separating commercial disputes.
The Minister added that the organizers of this forum have smartly selected the topic, as commercial arbitration issue became one of the important topics in countries’ plans and strategies that are working in consolidating solid legal and legislative construction and attracts investment in light if steady increase in trade and industry globalization. As well as widening development rates and investments increase led to over international commercial arbitration system and investors have become keen to include arbitration clause in their contracts for the advantages enjoyed by this system.
The seminar also addresses and discusses a lot of research and studies on International Commercial Arbitration process and arbitration institutions in Europe and their practices in terms of quick decision, confidentiality, and commercial issues fee in this field. This seminar is an opportunity to interact and exchange opinions and experiences in this important subject.
Industry and Commerce Minister lauded the government and the Ministry for organising such event with strategic dimension of various economic activities in the Kingdom of Bahrain, which benefit government’s general objectives represented mainly in government keenness with its strong legal and legislative base to attract regional and international investments in line with the renaissance witnessed by the Kingdom of Bahrain in various fields.
Dr. Fakhro pointed out that competitiveness and economic challenges today requires everyone to keep pace and catch up to maintain the gains and consolidate Kingdom’s long history of as a strategic location for businesses and economic services and a gateway for global investments.
Dr. Fakhro praised the effort undertaken by Gulf International Conferences Organizing Company in organizing this seminar, appreciating seminar’s participants that includes experts, legal specialist in commercial arbitration that will contribute to enrich the discussions.