A United Nations convention on mediation named after Singapore will be signed on Aug 7, just two days before National Day (54 nations to attend S'pore Convention on Mediation signing, July 30).
It is an honour that Singaporeans should be proud of.
Business transactions and trades across geographies are growing exponentially and in complexity given new technologies, stricter financial regulations and improved logistic.
And disputes do crop up, though not all need to be settled in court.
To avoid long litigation processes, biased arbitration or strained relationships, organisations turn to mediation on neutral ground.
Singapore has earned a reputation as a trusted mediator, thanks to its stable governance, zero tolerance for corruption, better-structured legal framework, and best practices in legal, arbitration and mediation processes. Already, we have facilities for international arbitration and mediation, and a fully functional international commercial court. They all add up to Singapore's credibility as a reliable mediation platform.
Providing mediation and help to resolve complex trade disputes demands a highly professional and neutral approach, which a reliable country like Singapore can provide.
The convention seals Singapore's role as an important trading hub in South-east Asia.
Ramamurthy Mahesh Kumar