Mubarak era politician Ahmed Fathi Sorour has been chosen for chief of the first Arab international arbitration court, created to resolve regional commercial and economic disputes, state-owned MENA agency reported on Monday.
In a statement to MENA on Monday, the General Assembly of the Arab Union for International Arbitration announced the establishment of the court, which will have its headquarters in Cairo.
Joining Sorour — an old-time law expert and Egypt's longest-serving parliamentary speaker (1990-2010) under the regime of ex-president Hosni Mubarak — will be Hassan Hamad as secretary-general of the court and business mogul Mohamed Abo El-Eneهn as the court’s deputy head for business affairs.
According to MENA, the inauguration of the court represents a “distinctive act” in developing commercial and economic relations between Arab countries, particularly as earlier disputes were subject to resolution by international arbitration institutions in Europe and the United States.
The court consists of ten divisions, with one specialized in resolving economic and investment disputes and the others designated to rule on individual disputes.
The statement added that discussions are ongoing to fill the posts of deputies, a committee of advisors and the board of trustees, all of which are expected to be composed of judges, lawyers, and investors.
Cairo was chosen to host the court due to its status as a founding member of the Council of Arab Economic Unity.
The union plans to establish branches of the court in other Arab countries following recommendations by the general assembly.