The Chairman of Bahrain Chamber of Commerce and Industry (BCCI), Mr. Sameer Abdulla Nass, has stressed the need to promote a unified Gulf Cooperation Council (GCC) law for commercial franchising.

The BCCI Chief said that a proposed legislation would contribute to encouraging commercial franchising activities by setting up a framework that would regulate the relationship between the franchisor and the franchisee.

At the consultative meeting attended by Ministers of Commerce and Industry and Heads of GCC Unions and Chambers of Commerce and Industry, he said that a unified law would provide the necessary legal protection for both parties and contribute to granting the franchisor the freedom to expand in the GCC countries.

Mr. Sameer Abdulla Nass said, “The enactment of a unified GCC law for commercial concessions will benefit the GCC economy as a whole and activate the commercial movement among the citizens and companies of the GCC countries smoothly and safely.”

The Chairman of BCCI also highlighted the importance of the proposal in supporting economic integration among the GCC countries through several alternatives and revitalising trade to diversify the sources of income.

First Deputy Chairman Khalid Mohammed Najeebi of BCCI said that holding consultative meetings are essential because they serve, support and enhance joint cooperation between the public and private sectors in order to spur economic growth across GCC countries.

He called for more coordination among the chambers of commerce and the executive authorities to seize all opportunities available in all sectors to attract local, regional and international investors.

Source: Bahrain News Agency