SINGAPORE - Businesses in dispute in the region can now resolve their differences with the help of a mediator through a new international mediation centre in Singapore.
Launched on Wednesday evening, the Singapore International Mediation Centre aims to provide "world-class commercial mediation services" to parties involved in cross-border commercial disputes.
Chief Justice Sundaresh Menon said at the launch that dramatic growth in trade and investment in Asia in recent years has led to more demand for quality dispute resolution services, but there was no organisation here focused on providing such services.
He said: "The Singapore International Mediation Centre will fill that gap and this will constitute a very significant step towards developing a more complete suite of dispute resolution services in Singapore."
Earlier on Wednesday, the Singapore International Mediation Institute, which is a professional standards body, was also launched.
Mediation service providers or trainers can register with the institute, and mediators under these providers will then be accredited or certified.
Senior Minister of State for Law Indranee Rajah, the guest-of-honour at the event, said: "Unlike arbitration and litigation, which are adversarial processes and result in a "win-lose" situation, successful mediation can sometimes result in a better outcome for the parties, as win-win situations can be achieved through a flexible mix of legal and non-legal solutions."