13th IFCAI conf. opens in Manama

MANAMA, March 23 (KUNA) -- Bahraini Minister of Justice and Islamic Affairs Sheikh Khaled Al Khalifa opened the 13th biennial conference of the International Federation of Commercial Arbitration Institutions (IFCAI) in Manama on Monday.
The event, organized by IFCAI in collaboration with Bahrain Chamber for Dispute Resolution (BCDR) and the American Arbitration Association (AAA), gathered more than 160 experts in commercial arbitration from 24 countries including IFCAI President Diana Droulers.
It will discuss hot issues in international arbitration in the Arab World and arbitral institutions as well as issues of conflicts of interest.
In his inaugural speech, Sheikh Khaled commended the role of IFCAI in resolving the commercial disputes and facilitating trade and investment around the world.
"The Kingdom of Bahrain is preparing for the endorsement of the UNCITRAL Model Law on International Commercial Arbitration," the minister said.
The provisions of the Model Law, adopted by the United Nations Commission on International Trade Law (UNCITRAL) on June 21, 1985, and amended in 2006, will be integrated into Bahrain's national laws, he added.
On her part, Chairperson of BCDR Board of Trustees Sheikha Haya Bint Rashed Al-Khalifa said the BCDR is keen on providing the best possible service to commercialists and investors in keeping with the world's latest standards.
"The Chamber works to promote awareness about rules of commercial arbitration through hosting international conferences such as the current one," she pointed out.
The Chamber plans to launch a training center of arbitration and international law with a view to building the capacity of local and regional arbiters besides launching a legal magazine which will serve as a reference for academicians and legal practitioners, Sheikha Haya added.
Meanwhile, Prince Dr. Bandar Bin Salman Bin Mohammad Al Saud, the honorary president of the GCC Commercial Arbitration Centre (Dar Al-Karar), said Saudi Arabia made great strides in developing an arbitration system that meets the needs of investors and commercialists.
He spoke highly of the IFCAI role in organizing such conferences which provide a platform for arbitration experts to share information and experience on techniques of dispute settlement.
Founded in 1985, IFCAI consists of 57 member organizations worldwide; it aims to establish and maintain permanent relations among the commercial arbitration institutions, foster a broad exchange of information on all aspects of arbitration and conciliation, encourage the responsible use of these dispute resolution techniques and facilitate the exchange of information on member organization services. (end) mge.gb