Singapore considers setting up int’l commercial court
The Singapore Government is considering setting up a new independently
run mediation centre and a Singapore International Commercial Court
(SICC) to deal with regional and international commercial disputes.
The Singapore Government is considering setting up a new independently
run mediation centre and a Singapore International Commercial Court
(SICC) to deal with regional and international commercial disputes.
Singaporean Minister of Foreign and Justice K. Shanmugam revealed this in his remarks at the 26 th LAWASIA conference in Singapore on October 29.
Shanmugam said the establishments will help meet increasing needs for law services in the region.
He stressed Singapore is a focal point in Asia for many international transactions, such as trade, investment, finance and other services, adding that the country hopes to expand its commercial dispute resolution sector through setting up a neutral mediation centre for every kind of dispute.
According to Minister Shanmugam, a working group on international commercial mediation has been established to make recommendations on what needs to build the centre.
Meanwhile, a committee headed by Senior Minister of State for Law Indranee Rajah is looking into the establishment of the SICC, which if set up properly, can fill a lacuna in the region, he said.-VNA
Singaporean Minister of Foreign and Justice K. Shanmugam revealed this in his remarks at the 26 th LAWASIA conference in Singapore on October 29.
Shanmugam said the establishments will help meet increasing needs for law services in the region.
He stressed Singapore is a focal point in Asia for many international transactions, such as trade, investment, finance and other services, adding that the country hopes to expand its commercial dispute resolution sector through setting up a neutral mediation centre for every kind of dispute.
According to Minister Shanmugam, a working group on international commercial mediation has been established to make recommendations on what needs to build the centre.
Meanwhile, a committee headed by Senior Minister of State for Law Indranee Rajah is looking into the establishment of the SICC, which if set up properly, can fill a lacuna in the region, he said.-VNA
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