Qatar is seeking to establish a specialised court for investment and trade, in line with the requirements of the country to create an easy investment environment, an official of the Qatar International Centre for Conciliation and Arbitration (Qicca) has said.
The statement was made by Qicca board member for International Relations Sheikh Dr Thani bin Ali al-Thani on the sidelines of a seminar titled "The Role of Economic Courts in Enhancing Trade and Investment – The Judiciary Control of Arbitration Awards by the Courts" held on Wednesday at the Qatar Chamber headquarters.
Sheikh Thani said the State of Qatar is witnessing “a great economic movement that extends to all areas,” even as he stressed the need to find alternative means of commercial disputes settlement that are consistent with the nature of these disputes leading to fair solutions.
He said the seminar was aimed at introducing the ‘economic court,’ considered one of the specialised courts for investment, trade, economy, and business-related cases, in view of Qicca’s role in reviewing the latest practices in the field of arbitration and the presentation of similar experiences.
During the seminar, Arab Union of International Arbitration secretary general Dr Borhan Amrallah reviewed the nature of economic courts that deal with the settlement of commercial disputes, which is distinguished from ordinary courts as a specialised court “that achieves accurate and rapid justice.”
He stressed that the system of economic courts, which is characterised by having specialised judges, requires the selection of technical and professional disciplines and taking into account the seniority in the selection of judges, in addition to holding training courses and programmes specialising in commercial laws and modern business transactions of the judges of the economic court.
Qicca counsellor Dr Minas Khatchadourian said the decision to establish a specialised court in the field of investment and trade “is an important step” for the integration of judicial and legal system, and the realisation of the principle of specialised judiciary and enhancing the investment environment.
Khatchadourian said this would reflect the interest of the national economy and support Qatar’s position on the business and investment map. He pointed out that this court, according to the Supreme Council of the Judiciary, will accelerate the procedures related to investors’ needs as a model for applying commercial and financial laws and contributing to creating an attractive atmosphere for investment.