Bahrain’s trade laws to be overhauled
Manama, August 25, 2014
Bahrain’s trade laws are to be overhauled to expedite dispute settlement and attract foreign investments, it was announced at a Cabinet meeting yesterday.
The meeting was chaired by HRH the Prime Minister Prince Khalifa bin Salman Al Khalifa.
The Premier stressed the importance of modernising commercial legislation to revitalise economic development, said a report in the Gulf Daily News (GDN), our sister publication.
He highlighted the need to fast-track settlement of investment disputes through arbitration and avert any conflict of laws in tackling contentious civil and trade issues.
Draft laws aimed at encouraging and protecting market competition were also discussed.
The Economic Development Board was assigned to scrutinise the proposed legislation.
Plans to step up co-operation with international watchdogs to build national capabilities and promote human rights were stressed.
Technical co-operation with the UN Human Rights Commission in particular will be enhanced.
The Supreme Council for Women (SCW) is celebrating the 13th anniversary of its establishment.
The Cabinet hailed the efforts of the council in empowering Bahraini women and promoting their crucial role in political, cultural and social life.
In a statement yesterday, it commended the council's landmark achievements, led by Her Royal Highness Princess Sabeeka bint Ibrahim Al Khalifa, Wife of His Majesty and SCW President.
Meanwhile, the SCW extended gratitude to the Cabinet for its support.
The council commended all efforts by the government and executive institutions in integrating the national strategy for advancement of Bahraini women in their work programmes. - TradeArabia News Service