10 Jun 2024

Cooperation between Bahrain Chamber and ICC in organizing economic activities and developing mediation, commercial legislation

The President of the Union of Arab Chambers and Chairman of the Bahrain Chamber of Commerce and Industry, Sameer bin Abdullah Nass, has emphasized the need to create a new mechanism to enhance the protection of Bahraini business owners from the risks of international transactions. This, he said, would provide a safe and stable environment for foreign investments, in line with best global practices, in cooperation with the International Chamber of Commerce (ICC).

Nass noted that the repercussions, variables and major challenges facing global trade and international cooperation still exist, requiring more coordination and dialogue with all concerned parties to ensure business continuity and maintain economic expansion.

During a meeting in Paris with the ICC Secretary-General, John Denton, Nass said that hosting major international economic events in Bahrain is one of the Chamber's strategic goals to enhance the growth of business sectors and support the national economy. He stressed the importance of integrating the Bahraini private sector more deeply into the multilateral trading system to serve national objectives and promote sustainable growth.

 

Cooperation with the ICC, Nass explained, represents an advanced step towards developing the human capabilities of practitioners in the legislative and legal fields. This will be achieved by maximizing the use of the 11 sectoral committees of the ICC to drive progress and development, and enhance the legislative role in advancing various economic areas.

 

For his part, the First Vice Chairman of the Bahrain Chamber, Khalid Najibi, emphasized the importance of transferring the ICC's expertise and successful experiences to Bahrain. This, he said, would support the development process in areas such as competitiveness, intellectual property, the digital economy, logistics, maritime transport, and the drafting of international laws.

 

In turn, Basem Al-Saei, a member of the Chamber's Executive Office, highlighted the importance of cooperation with the ICC in the field of mediation and commercial conciliation. This, he said, would enhance the legal services provided to the Bahraini business community, resolve commercial disputes, and introduce businessmen and investors to the legal procedures adopted in their commercial relations.

 

Similarly, ICC Secretary-General, John Denton, welcomed the constructive cooperation with the Bahrain Chamber of Commerce and Industry in drafting commercial laws, transferring expertise, and resolving commercial disputes. He praised the Chamber's pioneering role in establishing new standards for serving the business community and preserving the interests of its members, expressing the ICC's full readiness to provide all aspects of support to the Bahrain Chamber to achieve its desired goals.

AE

 

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