The Singapore Convention on Mediation (the Singapore Convention), an international trade dispute resolution treaty, opened for signature in Singapore on Aug. 7, and saw 46 signatories, which represents the highest-ever number of first-day signatories of a United Nations trade convention. Indonesia, unfortunately, was not one of the 46 signatories.
The signing and ratification of the Singapore Convention marks a milestone in the development of mediation practice and brings countries closer to a tipping point — the moment when a smoother path is paved for international trade and commerce with the backing of a mature, rule-based dispute resolution framework.
There are multiple benefits from being a signatory to the Singapore Convention. For Indonesia, it would represent an opportunity to elevate its standing as a viable business destination for foreign investors and businesses. …
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