Ashraf AboArafe
Mr. Ahmed Aboul Gheit, Secretary-General of the League of Arab States (LAS), received today, Monday, February 24, the judges of the Arab Investment Court (AIC)on the occasion of the issuance of the decision of the Economic and Social Council to appoint them as members of the Court.
Gamal Rushdi, the official spokesman for the Secretary-General, stated that Aboul Gheit received the judges so that they could take the regular oath before starting their work in the Court and holding the General Assembly.
The spokesman added that the purpose of establishing this court is to settle disputes arising from the implementation of the Unified Agreement for the Investment of Arab Capital in Arab Countries, as this agreement, which entered into force in 1981, aims to enhance comprehensive Arab development and Arab economic integration, provide a suitable climate for Arab-Arab investment, and facilitate the free movement of funds within Arab countries while fortifying them with guarantees against non-commercial risks.
The new session of the court, which will start its term in February for a period of 3 years, consists of 24 judges from 13 countries: Egypt, Mauritania, Yemen, Qatar, Iraq, Syria, Morocco, Jordan, Palestine, Bahrain, Sultanate of Oman, Saudi Arabia, and Lebanon. The spokesman added that Aboul Gheit was keen to listen to the judges, exchange talks with them, and brief them on the challenges facing the Arab region at various levels.
