SHARJAH: The Sharjah Chamber of Commerce and Industry (SCCI) has engaged in discussions with the Bahrain Chamber of Commerce and Industry (BCCI) to explore avenues for enhancing cooperation in the field of international commercial arbitration.
Both sides also discussed establishing a strategic partnership that will not only enhance the investment landscape but also increase exports and spur the development of bilateral trade and economic prospects between the UAE and Bahrain, driving them to more progressive and prosperous heights.
This collaboration seeks to serve the best interests of both sides, boost the competitiveness of their business communities, and support joint investments across strategic economic sectors.
The discussions took place during a meeting, held at the SCCI’s headquarters, between Mohammed Ahmed Amin Al Awadi, Director-General of the Sharjah Chamber, and Atef Mohamed Al Khaja, Chief Executive Officer of the Bahrain Chamber.
The meeting was attended by Maryam Saif Al Shamsi, Assistant
Director-General for the Support Services Sector at SCCI; Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector at SCCI, and Dr. Ahmed Saleh Al-Ajla, Director of the Sharjah International Commercial Arbitration Centre ‘Tahkeem’ which operates under the umbrella of the Sharjah Chamber.
During the meeting, Mohammed Ahmed Amin Al Awadi said that international commercial arbitration plays a pivotal role in enhancing investor confidence. It provides a secure and stable business climate, which, in turn, promotes greater investment and capital inflows.
He pointed out that commercial arbitration, being more specialised, serves as an efficient alternative for quicker, cost-effective resolutions to commercial disputes.
He also noted that enhancing arbitration rules and mechanisms between the UAE and Bahrain will further attract foreign investments and stimulate economic growth in both nations, which are experiencing rapid growth in trade and investment exchange. This necessitates coo
rdination to develop international commercial arbitration frameworks and ensure a more thriving business environment.
For his part, Dr. Ahmed Saleh Al-Ajla highlighted the initiatives undertaken by the Sharjah International Commercial Arbitration Centre ‘Tahkeem’ to advance the understanding of arbitration among legal experts, professionals, and business leaders at the local, regional, and international levels.
He emphasised the Centre’s efforts in resolving commercial disputes and conducting specialised seminars, training programs, and international conferences on commercial disputes. These endeavours affirm Tahkeem’s commitment to reinforcing Sharjah’s position as a leading regional hub for investment and business operations.
The meeting focused on the importance of exchanging expertise and experiences to establish best practices in the field of commercial arbitration. The aim is to foster business partnership growth and provide clear mechanisms for resolving commercial disputes efficiently and fairly.
Furthermore, the discussions veered towards opportunities for organising joint training sessions and workshops to qualify and enhance the skills of arbitrators in both Sharjah and Bahrain, thereby helping develop a pool of specialised professionals capable of handling diverse international commercial disputes and cases.
Source: Emirates News Agency