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Bahrain, Singapore to Establish International Commercial Court

The treaty aims to promote the international rule of law and boost international trade
The treaty aims to promote the international rule of law and boost international trade
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Bahrain, Singapore to Establish International Commercial Court

The treaty aims to promote the international rule of law and boost international trade
The treaty aims to promote the international rule of law and boost international trade

Bahrain and Singapore have signed a treaty to establish the Bahrain International Commercial Court (BICC) in Bahrain and a designated body in Singapore.

The treaty was signed by Nawaf bin Mohammed Al Maawda, Minister of Justice, Islamic Affairs and Endowments, and Kasiviswanathan Shanmugam, Minister for Home Affairs and Minister for Law of Singapore during a virtual meeting.

The treaty aims to promote the international rule of law and boost international trade by developing transformative systems for the resolution of disputes in international trade and endorsing a transnational system of commercial justice.

Al Maawda said the treaty is a transformative step towards strengthening the rule of law and promoting access to justice on the international level.

The treaty provides a framework for cooperation between the two countries to ensure the interests and rights of the international business community, he added.

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Albudaiwi: Advantage Oman Forum Offers Valuable Investment Insights

Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi
Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi
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Albudaiwi: Advantage Oman Forum Offers Valuable Investment Insights

Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi
Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi said that the Advantage Oman Forum is a valuable opportunity offered by Oman to discuss and review investment opportunities and initiatives, as well as future transformations in promising sectors in this field.
This came during Albudaiwi's participation in the first edition of the Advantage Oman Forum, which was held under the patronage and attendance of Omani Deputy Prime Minister for Defense Affairs Sayyid Shihab bin Tarik Al Said, and in the presence of a number of ministers of the GCC countries, Sunday in Muscat. A group of senior officials and decision-makers participated in the forum, SPA reported.
The Secretary-General stated that Oman's Organisation of this forum reflects the insightful vision of the wise Omani leadership to strengthen the national economy and attract global investments, thus contributing to achieving sustainable development goals. He also praised the forum's activities and the workshops as well as the dialogue sessions it included, which provide the elements of success and sustainability for this forum, making it a regional and international platform and a destination for those interested in economic and investment affairs in Oman.
Furthermore, Albudaiwi added that Oman, with its attractive investment environment, advanced infrastructure, well-thought-out economic policies and significant economic, in addition to investment growth indicators, has become a destination for investors from around the world, stressing that this strengthens its position as a key pillar in the economies of the GCC countries and supports the council's aspirations for regional economic integration.
The Secretary-General concluded his statement by expressing his confidence that the forum will achieve positive results that will contribute to expanding the horizons of economic and investment cooperation between the GCC countries and the world, and support the comprehensive development process in the region.