Dubai: The Gulf Court of Justice to settle commercial disputes between member countries of the Gulf Corporation Council (GCC) or between a GCC and a non-GCC state is in the pipeline, a leading judicial official has said.

"Yes, the idea was presented earlier by some officials in our country. It was also raised by the GCC. We attended several meetings to develop and write its statute and the law of procedure.

"It was named as the Judiciary Economic Organisation, whose role is to settle the economic disputes among the GCC countries," Sheikh Khalifa Mohammed Abdullah Al Hadhrami, vice president of Oman's Supreme Court said.

Al Hadhrami said he firmly believes that such a judicial body would be more than welcome.

"We hope to go further and make this initiative a reality as early as possible," he said.

Al Hadhrami said Arbitration Act is like any other law which needs amendment from time to time to keep pace with the developments.

"Arbitration has become widespread as a way to resolve commercial disputes through amicable settlement with respect for the legal parameters that is regulated by the Arbitration Act.

"The problem is in raising awareness of the importance of this issue. That is what we seek as it would be in the interest of all people, especially large companies in order to protect privacy, which we are keen to maintain,” he said.

Stressing on the need for spreading a settlement culture for the success of mediation as an alternative dispute resolution system, Al Hadhrami said, most of the disputes were solved by heads of the tribes in an open session, locally known as Sabla.

(Agencies)