Events

Belarus signs Singapore Convention on Mediation

Photo courtesy of the Justice Ministry

MINSK, 7 August (BelTA) – Belarus Justice Minister Oleg Slizhevsky, acting under delegated authority from the head of state, signed the United Nations Convention on International Settlement Agreements Resulting from Mediation Justice Ministry spokeswoman Olga Shybko told BelTA.

Taking into account the contribution of Singapore to the development of international trade law and to the preparation of the convention, the document has been named in its honor. The Singapore Convention on Mediation is the new progressive instrument in international dispute resolution.

The signing ceremony was opened by Singapore Prime Minister Lee Hsien Loong. UN Secretary General Antonio Guterres addressed the participants via a video link.

The convention has been signed by 46 countries, including China, the United States, and India. By acceding to the document Belarus has confirmed its commitment to strengthening cooperation in international trade, developing the framework for international dispute resolution. This step is particularly important in connection with the upcoming accession of Belarus to the World Trade Organization.

The document regulates the use of mediation for the resolution of international commercial disputes. “Mediation” means a process whereby parties attempt to reach an amicable settlement of their dispute with the assistance of a third person or persons (“the mediator”). In case the Convention gains the support of a significant number of states, it will have a positive impact on the entire framework of international dispute resolution. Belarus is interested in improving the system of mediation through greater transparency, simplification of procedures and reduction of financial costs for the parties.

The Belarusian Justice Ministry has devised a plan for comprehensive improvement of legislation necessary for the implementation of the Convention.

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