Manama: Activities of the Second GCC Law and Arbitration Week began today in Manama. The event is organized by the GCC Commercial Arbitration Center and will run for five days, with the participation of more than 60 Gulf and international experts.

According to Saudi Press Agency, in a speech delivered at the opening session, Secretary-General of the Gulf Cooperation Council Jasem Albudaiwi expressed his gratitude to the leaders of the GCC states for the care and support they extend to the centers and offices affiliated with the GCC General Secretariat.

Albudaiwi emphasized that the law and arbitration ecosystem plays a pivotal role in supporting economic growth and enhancing the competitiveness of GCC states. He noted that legislative clarity, the swift resolution of disputes, and effective arbitration mechanisms are key factors in attracting foreign investment, empowering the private sector, and stimulating entrepreneurship.

He added that these elements also contribute to reducing investment risks, improving market efficiency, and supporting the economic diversification efforts pursued by GCC states under their ambitious national visions.