Mashat: Establishing Arab Court of Arbitration emodies joint Arab action

CAIRO - 2 May 2024: Egyptian Minister of International Cooperation Dr. Rania Al-Mashat confirmed that the establishment of the Arab Court of Arbitration, with its main headquarters in Cairo, is an embodiment of joint Arab action, and would enhance the movement of trade, economy, and investment among Arab countries.

 

This came as Egypt hosts the annual meetings of Arab financial institutions and bodies, in the New Administrative Capital, on May 22 and 23, under the patronage of President Abdel Fattah El-Sisi, and honoring Dr. Mostafa Madbouly, Prime Minister.

 

The meetings were organized by the Arab Monetary Fund in cooperation with the Ministry of International Cooperation, in addition to holding the 59th meeting of specialized Arab federations operating under the scope of the Council of Arab Economic Unity in Cairo.

 

Minister of International Cooperation and Permanent Representative of Egypt to the Council of Arab Economic Unity, Dr. Rania Al-Mashat, added that the necessary constitutional measures have been initiated for Egypt to join the Arab Court of Arbitration Agreement, in light of the directives of His Excellency the President, to support aspects of joint Arab action in general.

 

The Arab Court of Arbitration in particular, in addition, the Egyptian state is working to enhance coordination with the delegations of member states of the Economic Unity Council to join the Arab Court of Arbitration agreement in a way that enhances economic integration between countries and encourages the movement of trade and investment.

 

The Ministry of International Cooperation had completed the ceremony of handing over its old headquarters in the downtown area to the Arab Court of Arbitration, to be a temporary headquarters for the court, until the permanent headquarters of the court is prepared in the City of Justice in the New Administrative Capital, in implementation of the directives of President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, and the decision Presidency of the Council of Ministers.