More than 20 countries, including the United States and China, are set to sign the Singapore Convention on Mediation on Aug 7, a United Nations treaty that observers say will cement Singapore's reputation as a dispute resolution hub.
Home Affairs and Law Minister K. Shanmugam said yesterday that the support for the convention is "very exceptional". And the fact that the world's two biggest economies have said they would sign it is an "indication of them accepting that this is a very important convention", he added.
Singapore played an active role in developing and drafting the convention, which will make it easier to enforce mediation settlements of commercial disputes across borders.
For now, 54 countries will attend the ceremony. Around half have indicated that they will sign it.
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