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