At the signing ceremony for the Singapore Convention on Mediation in August (Photo: straitstimes.com)Singapore (VNA) – The Singapore Office ofthe Permanent Court of Arbitration (PCA) was officially launched at MaxwellChambers Suites building on November 19, said Senior Minister of State for LawEdwin Tong.
Since the PCA was established in the country in 2018, it has administered 26proceedings and concluded five hearings.
PCA Secretary-General Hugo H.Siblesz said “PCA’s arrangement with Singapore hasmade its service more accessible to parties and disputes in this part of theworld.”
According to Tong, five more countries, namely Armenia, Chad, Ecuador, Gabonand Guinea-Bissau, have inked the Singapore Convention on Mediation, bringingthe total number of signatory to 51. The convention aims to promote the use ofmediation in settling cross-border commercial disputes, and is also relevant tothe work of the PCA, which provides support for mediation and conciliation.
The Ministry of Law will organise the second Singapore Convention Conference onSeptember 1 next year, he added.
The Singapore Convention on Mediation not only creates a turning point for thedevelopment of international trade conciliation but also serves as a basis formultilateral trade cooperation./.
VNA
