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