October 12, Manama (BNA): A ground-breaking project to identify and accredit professional specialization sectors for arbitrators and experts has been started by the GCC Commercial Arbitration Center. The Center’s continuous efforts to improve the caliber of commercial arbitration services and create a dispute resolution environment that is in line with regional and global economic changes are reflected in this endeavor.
GCC Commercial Arbitration Centre launches 30 specialised fields for arbitration, expertise
Energy, oil and gas, renewable energy, engineering and construction, real estate, competition and antitrust, taxation, insurance, artificial intelligence, intellectual property, environment and sustainable development, sports investment, banking, business management, transportation and logistics, and arbitration in media, culture, and the arts are just a few of the crucial fields covered by the list’s 30 professional specializations.
The Center’s Secretary-General, Dr. Kamel Al Hamad, emphasized that this endeavor is in line with the Center’s strategic aim to fortify its standing as the region’s preeminent institutional arbitration organization. According to him, identifying these sectors would improve the effectiveness of arbitrators and experts, guaranteeing that cases are sent to experts with extensive technical and practical knowledge, resulting in prompt and equitable justice while preserving the trust of the business and investment sectors.
Through this project, the Center hopes to meet the unique demands of GCC markets while also staying up to date with economic trends, Dr. Al Hamad stated. According to him, these industries will also increase the number of certified experts and arbitrators, boosting the Center’s competitiveness both domestically and globally.
He added that the establishment of these professional specialization areas is a calculated move to coincide with international trends in commercial arbitration and conflict resolution, increase investor trust, and structure arbitration procedures within specialized frameworks.
The GCC Commercial Arbitration Center is an international and regional arbitration organization with legal personality, which is important to note. During the 14th Gulf Cooperation Council (GCC) Summit, which took place in Riyadh from December 20 to 22, 1993, the presidents of the GCC states, Their Majesties and Highnesses, passed a resolution creating it. All of the GCC Cabinets later approved the decision.
By offering top-notch training programs and encouraging an arbitration culture, the Center seeks to enhance arbitration’s standing as an impartial and successful means of settling business and investment disputes as well as to educate and certify arbitrators, experts, and secretaries from a variety of fields.
