5 Nov 2014
Law Minister K Shanmugam called it a major milestone in Singapore’s development as a regional dispute resolution hub
Focusing on mediating international commercial disputes, Singapore hopes to be a “premier destination for legal services and resolution of disputes in Asia and in the world with the official opening of the Singapore International Mediation Centre (SIMC) today (Nov 5).
Chief Justice Sundaresh Menon, who spoke at the launch at Maxwell Chambers, said that these are exciting times for cross-border trade and investment, with “dramatic growth in trade and investment in Asia in recent years.
Highlighting the “corresponding increase in the need for quality dispute resolution services, he said: “The Singapore International Mediation Centre will fill that gap and this will constitute a significant step towards developing a more complete suite of dispute resolution services available in Singapore.
According to a statement from the Centre, Minister of Law, Mr K Shanmugam called the launch of the SIMC “a major milestone in Singapore’s development as a regional dispute resolution hub.
Along with the presence of the Singapore International Arbitration Centre (SIAC), he said the SIMC’s mediation services will “complement our successful arbitration sector and upcoming enhanced international litigation capabilities provided by the Singapore International Commercial Court.
The SIMC’s panel will consist mediators such as Singapore’s Ambassador-At-Large Professor Tommy Koh, Dr William Ury, co-author of the world’s bestselling book on negotiation, Getting to Yes, as well as mediators from Africa, Asia, Australia, New Zealand, Europe and North and South America, the statement said.