UN Convention that promotes mediation to resolve trade disputes moves closer to entry into force

UN Photo/Manuel Elias Edwin Tong Chun Fai (left) of Singapore presents instruments of ratification to UN Legal Counsel Miguel de Serpa Soares. At right is David Nanopoulos of the Office of Legal Affairs.

This article is brought to you in association with the United Nations.


Singapore and Fiji have become the first countries to ratify a UN treaty that promotes mediation as an alternative and effective method for resolving trade disputes, thus marking an important step towards its entry into force.

During a ceremony at UN Headquarters on Tuesday, Singapore Senior Minister of State Edwin Tong Chun Fai and Ambassador Satyendra Prasad of Fiji deposited their instruments of ratification for the United Nations Convention on International Settlement Agreements Resulting from Mediation, which was adopted by the General Assembly in December 2018.

Also known as the Singapore Convention on Mediation, it aims to achieve universal recognition of mediation as a powerful tool to solve disputes and support its wider use as a quick and non-confrontational method for commercial dispute resolution.

“The Singapore Convention on Mediation is expected to bring certainty and stability to the international framework on mediation, thereby promoting more prosperous, stable and sustainable international trade relationships among States and regions, and further contributing to economic development, social progress, and maintenance of peace,” said Miguel de Serpa Soares, Under-Secretary-General for Legal Affairs and United Nations Legal Counsel.

The Singapore Convention on Mediation provides countries with something which had not existed before: an effective mechanism to enforce international settlement agreements resulting from mediation.

As the UN Office for Legal Affairs (OLA) explained, promoting the use of mediation in international trade and investment facilitates solving conflicts without going through formal – and sometimes lengthy and costly – legal processes.

Mediation also supports global efforts to realize a better future for all people and the planet through achieving the 17 Sustainable Development Goals (SDGs) by 2030. It particularly reflects the ideals of SDG 16 on promoting peace, justice and strong institutions.

The Singapore Convention on Mediation opened for signature on 7 August 2019 and has been signed by 52 countries.

However, signatories still need to ratify, accept or approve the Convention, which is also open for accession by all countries that are not signatories.

It will enter into force six months after three States deposit their instruments of ratification.

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Reducing deforestation means getting serious about environmental crime

The company of the future must do well by doing good

Afghanistan: top UN official denounces ‘extreme’ suffering of civilians in Ghazni

Pandemic and mental health: what to do in this context?

This brewery is ditching plastic six-pack rings to save marine life

Tourism and transport: Commission’s guidance on how to safely resume travel and reboot Europe’s tourism in 2020 and beyond

Do we need a new Marshall Plan to rebuild Europe after COVID-19?

Our food system is no longer fit for the 21st century. Here are three ways to fix it

Music is a vital urban resource. How do we plan for it?

It’s people, not technology, that will decide the future of work

‘Growing alarm’ over Fall Armyworm advance, with cash crops ‘under attack’ across Asia

Top UN official urges Russia and Ukraine to step away from further confrontation at sea

IMF: How To Deal With Failed Banks

Somalia: UN urges steps to ensure future elections not ‘marred’ by rights abuses seen in recent polls

A sterilised EMU may lead to a break up of Eurozone

Costa Rica has doubled its tropical rainforests in just a few decades. Here’s how

Migrant caravan: UN agency helping ‘exhausted’ people home

Here are 4 tips for governing by design in the Fourth Industrial Revolution

4 ways the way we make things can change for a sustainable world

The European Parliament launches a website on European election results

10 predictions for the global economy in 2019

Migrants and refugees are being forgotten in the COVID-19 response. This has to change

UN pushes for universal health care on International Day

Not much of a help the new EU Directive on pensions

EU Budget 2019: MEPs increase funding on youth, migration and research

Amid troop build-up in Rohingya’s home state, UN appeals to Myanmar for peaceful solution

Copyright: MEPs update rules for the digital age

JADE Romania Celebrates the 4th Anniversary

2,300 migrant children in Central American ‘caravan’ need protection, UNICEF says

Statement by President Tajani on US steel and aluminium duties

The ECB accuses the politicians of inaction, continues injecting billions to banks

The eyes of Brazil and the world turn to the largest rainforest and largest biodiversity reserve on Earth #PrayForAmazonia.

COP25: Support business efforts to tackle climate change, urges Guterres

Women-Friendly Spaces for Rohingya refugees: A place for protection and care

Nine children killed or maimed in Afghanistan every day: UN Children’s Fund

Protecting whistle-blowers: new EU-wide rules approved

Charlie’s tragedy energized deeper feelings amongst Europeans; back to basics?

Skills, not job titles, are the new metric for the labour market

Direction Wakanda: finance methods to make Africa a superhero continent

‘The welfare of the Libyan people’ the UN’s sole agenda for the country, says Guterres in Tripoli

From diamonds to recycling: how blockchain can drive responsible and ethical businesses

The Parliament sets the way for the European Banking Union

Teenage girl’s death sentence spotlights Sudan’s failure to tackle forced marriage, gender-based violence – UN rights office

This heroic doctor is waging war on rape and the stigma around it

Questions & Answers on the coordination of measures restricting free movement in the European Union related to the coronavirus pandemic

How dearly will Germany pay for the Volkswagen emissions rigging scandal

Syria: UN food relief agency ‘doing everything we can’ to reach Idlib civilians

European Youth Forum and youngest MEPs call on President Juncker to keep his promise to Europe’s youth

6 ways countries can prepare for the next infectious disease pandemic

Ecofin: ‘The Friday battle’ for the banking union

Bank resolutions set to remain a national affair

The Junior Enterprise concept: Business & Education

7 ways to break the fast fashion habit – and save the planet

Coronavirus fears may have driven over 300,000 UK smokers to quit

These are the countries that eat the most meat

Commission reports on the risks of investor citizenship and residence schemes in the EU and outlines steps to address them

The health of the human being in coexistence with a transformative biosphere

Quality education an ‘essential pillar’ of a better future, says UN chief

IFMSA and IPSF on the Health of Migrants and Refugees

International community has achieved unprecedented success fighting offshore tax evasion

More Stings?

Advertising

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s