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6 Aug 2019

Belarus, Singapore to exchange best practices in legal regulation

Belarus, Singapore to exchange best practices in legal regulation

MINSK, 6 August (BelTA) - The memorandum of understanding on cooperation was signed by Belarus Justice Minister Oleg Slizhevsky and Singapore's Minister for Home Affairs and Minister for Law of Kasiviswanathan Shanmugam,  BelTA learned from the press service of the Belarusian Justice Ministry.

The document will create the basis for the development of inter-agency cooperation, including the exchange of information on the legal systems and laws of the two countries, best practices in national regulation. The Belarusian minister described the signing of the memorandum as a timely and important step.

It was the first meeting between the law ministers in the history of bilateral relations between Belarus and Singapore. It took place on the eve of the important event in the field of international law, namely the ceremony of signing the United Nations Convention on International Settlement Agreements Resulting from Mediation due in Singapore on 7 August.

The ministers highlighted the importance of developing a comprehensive legal framework that will create favorable legal conditions for trade and business between the two countries. The bilateral framework already includes some agreements: on avoidance of double taxation, on promotion and mutual protection of investments. Work is underway on a draft free trade agreement between the Eurasian Economic Union and Singapore. The ministers were unanimous in that the law ministries play a significant role in institutionalizing the international legal mechanisms for the protection of rights and interests of citizens and businesses of the two countries.

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