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RIYADH, Jan 19: Saudi Arabia plans to set up tribunals to look into trade disputes, a long-standing demand by the oil-rich kingdom’s major trade partners and foreign investors.
Trade Commerce Minister Osama bin Jaafar Faqih said a committee has been created to study the setting up of specialised commercial courts, which would be given a mandate to rule on all trade disputes. They would replace so-called judiciary committees set up in recent years to deal with a growing number of trade, banking and other financial disputes.—Reuters
