Singapore's expertise in cross-border commercial dispute mediation will soon help boost Japan's capabilities in the area, with the signing of a Memorandum of Understanding between the Singapore International Mediation Centre (SIMC) and the Japan Association of Arbitrators (JAA).
SIMC will help set up the new Japan International Mediation Centre in Kyoto (JIMC-Kyoto), and also help it set up its panel of mediators.
The centre will start operating by early next year.
SIMC will partner JIMC-Kyoto to promote international commercial mediation in Japan through joint lectures, conferences and seminars, as well as help train mediators and advocates.
The two centres will also work together to raise awareness of the benefits of mediation, and how it can be used to resolve disputes involving Japanese companies overseas.
Singapore's Senior Minister of State for Law and Finance, Ms Indranee Rajah, said SIMC's Memorandum of Understanding with JAA is a "strong endorsement" of Singapore's capability in international commercial dispute resolution.
In a joint statement, Singapore's Ministry of Law and SIMC said Japanese companies now number among SIMC's top five foreign users, and SIMC has mediated over $20 million worth of disputes involving Japanese companies over the last two years.