Bahrain Chamber of Commerce and Industry (BCCI) Chairman Sameer stressed the importance of enacting a unified Gulf law for commercial franchising.

He noted that the proposed legislation would contribute to encouraging commercial franchising activities by setting up a framework that regulates the relationship between the franchisor and the “brand owner”.

He pointed out that the the unified law would also provide the necessary legal protection and contribute to granting the franchisor the freedom to expand in the GCC countries.

The BCCI chief was addressing the consultative meeting between which was held in the Sultanate of Oman, bringing together the GCC ministers of commerce as well as the chairmen of the Councils of Federations and Chambers of Commerce and Industry in the GCC countries.

“The enactment of a unified Gulf law for commercial concessions will benefit the Gulf economy as a whole and activate the commercial movement between the citizens and companies of the GCC countries smoothly and safely”, he added..

He stressed the importance of the move in supporting economic integration among the GCC countries through several alternatives, and revitalizing trade to diversify the sources of income.

BCCI First Deputy Chairman Khalid Mohammed Najeebi also stressed the the importance of holding such consultative meetings that serve, support and enhance joint cooperation between the public and private sectors in order to supur economic growth in the GCC countries.

He called for more coordination between the chambers of commerce and the executive authorities to seize the investment opportunities available in all sectors locally, regionally and globally.

Source: Bahrain News Agency