The Bahrain Chamber for Dispute Resolution (BCDR-AAA) and the Bahrain Chamber of Commerce and Industry (BCCI) announced their joint intention to collaborate fully to promote and enhance alternative dispute resolution (ADR) services in the Kingdom of Bahrain. Shaikha Haya bint Rashid Al Khalifa, Chairperson of the BCDR-AAA and Dr. Esam Abdulla Fakhro, Chairman of BCCI signed the Memorandum of Understanding on behalf of their organisations in a ceremony held at the BCCI headquarters in ManamaBahrain.
Both the BCCI and the BCDR-AAA play an effective role in enhancing the importance of the role played by the private, commercial and industrial sectors in the Kingdom’s development. This Memorandum of Understanding outlines the parties desire to cooperate and coordinate their efforts in promoting alternative dispute resolution in the Kingdom in order to resolve commercial disputes as quickly and as effectively as possible.
Shaikha Haya bint Rashid Al Khalifa said: “I am delighted to forge this link with the BCCI and am confident that this will be a long and promising relationship. Economically, Bahrain is growing rapidly with increasing foreign direct investment in the Kingdom. We want to maintain and encourage even more growth by ensuring that our alternative dispute resolution mechanisms are of the highest standard and we thank Dr. Esam Abdulla Fakhro and the BCCI for providing their support to us and collaborating so closely with us.”
Dr. Esam Abdulla Fakhro added: “The BCDR-AAA is bringing the very latest in global ADR to Bahrain, it is enhancing the quality of our ADR, by helping our businesses more efficiently and for that the BCCI is extremely grateful. Effective dispute resolution can save our businesses millions in costs. We are very proud to be partners of the BCDR-AAA and will endeavour to work with them to promote Bahrain.”
Both parties have made a commitment to encourage businesses to insert ADR clauses into all their contracts; to share knowledge and exchange experience in the management of commercial dispute resolution, to cooperate in running ADR seminars and conferences and to work together to undertake research into ADR in Bahrain and the wider region.