Sharjah And Bahrain Chambers Collaborate To Strengthen International Commercial Arbitration Efforts

The Sharjah Chamber of Commerce and Industry (SCCI) recently engaged in discussions with the Bahrain Chamber of Commerce and Industry (BCCI). The focus was on enhancing cooperation in international commercial arbitration. Both parties aim to establish a strategic partnership to boost investments, increase exports, and develop bilateral trade between the UAE and Bahrain. This collaboration seeks to benefit both sides by enhancing business competitiveness and supporting joint investments in key economic sectors.

During the meeting at SCCI’s headquarters, Mohammed Ahmed Amin Al Awadi, Director-General of SCCI, met with Atef Mohamed Al Khaja, CEO of BCCI. Attendees included Maryam Saif Al Shamsi, Abdul Aziz Al Shamsi, and Dr. Ahmed Saleh Al-Ajla from the Sharjah International Commercial Arbitration Centre "Tahkeem." Discussions centred on creating a stable business environment through international commercial arbitration.

Mohammed Ahmed Amin Al Awadi highlighted the importance of international commercial arbitration in boosting investor confidence. He stated that it provides a secure business climate, encouraging investment and capital inflows. He also noted that specialised commercial arbitration offers efficient alternatives for resolving disputes quickly and cost-effectively.

Al Awadi emphasised that improving arbitration rules between the UAE and Bahrain will attract more foreign investments. This is crucial as both nations experience rapid growth in trade and investment exchanges. Coordination is needed to develop frameworks for international commercial arbitration to ensure a thriving business environment.

Dr. Ahmed Saleh Al-Ajla discussed initiatives by Tahkeem to advance understanding of arbitration among legal experts and business leaders locally, regionally, and internationally. He highlighted efforts in resolving disputes through seminars, training programs, and conferences on commercial disputes. These initiatives reinforce Sharjah's position as a regional hub for investment.

The meeting underscored the significance of exchanging expertise to establish best practices in commercial arbitration. The goal is to foster business partnerships while providing clear mechanisms for fair dispute resolution. Discussions also explored organising joint training sessions to enhance arbitrators' skills in Sharjah and Bahrain.

Training Opportunities

The dialogue extended to opportunities for joint workshops aimed at qualifying arbitrators in both regions. This initiative aims to develop a pool of professionals capable of handling diverse international commercial disputes effectively. Such efforts are vital for maintaining robust economic relations between the UAE and Bahrain.

This collaboration between SCCI and BCCI signifies a step towards strengthening economic ties through improved arbitration practices. By focusing on strategic partnerships, both chambers aim to create a conducive environment for businesses to thrive across borders.

With inputs from WAM