LOC20:45
17:45 GMT
MANAMA, May 1 (KUNA) -- The Gulf Cooperation Council Commercial Arbitration Center (GCCCAC) has made outstanding successes in providing a legal environment based on moral values since it was established in 1993, Secretary General of the Center Dr. Kamal Bin Abdulla Al Hamad said on Wednesday.
The Manama-based center offers effective solutions to commercial disputes which help support the growth of the commercial sector of the GCC economies, he told reporters ahead of the 30th anniversary of the center, to be celebrated this Tuesday.
Dr. Al Hamad noted that this year's celebration coincides with a crucial stage in the history of the center which started implementing a new strategy aiming to turn the center into one of the world's top 10 centers.
"The GCCCAC has made headway in building an integrated system for commercial arbitration in the region thanks to the highly-qualified and experienced cadres and specialized training programs," he pointed out.
Dr. Al Hamad appreciated the support given to the center from the host Kingdom of Bahrain which helped make the center a favored and credible destination for the settlement of commercial dispute.
Bahrain enjoyed a highly advanced legal environment which is suitable for attracting investment and commercial arbitration, he added.
Under auspices of Crown Prince of Bahrain Salman bin Hamad, the center will celebrate three decades of achievements in its quest for realizing the aspirations of the GCC leaders for economic development. (end)
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