New United Nations Treaty on Mediation to Be Named after Singapore
Tuesday, February, 12, 2019
A new treaty regarding mediation in the United Nations will be named after Singapore. The ceremony signing the treaty is scheduled to take place in Singapore in August of 2019.
The Singapore Convention on Mediation was designed to make it easier for mediated settlements to be enforced. It also gives businesses more assurance that cross-border commercial disputes will be resolvable in the mediation process. This is the first United Nations treaty to feature Singapore’s name.
The treaty was named for Singapore because of the role the nation played in the negotiation and drafting of the treaty. It is also expected to be among the first to sign onto the treaty. There have been other countries invited by Singapore to sign, as well.
According to Singapore’s Ministry of Law, Being among the first signatories to the Convention will be a strong statement of a country's commitment to trade, commerce and investment. It will strengthen a signatory's position as a leader in international trade law and will be warmly welcomed by businesses and foreign investors. "
The goal of the convention will be to address the immediate lack of an effective means for settling cross-border commercial disputes via mediation. Designers of the treaty hope that it will make it easier to enforce resolutions that are reached through the mediation process.
The treaty is also intended to boost Singapore’s role as an international hub for resolving disputes. Over the years, there have been several institutions created by the Ministry of Law to provide dispute resolution services.