Singapore to help boost Japan's expertise in international commercial mediation

Singapore to help boost Japan's expertise in international commercial mediation

Japan skyline.
SINGAPORE: Singapore will lend its expertise in international commercial mediation to help Japan build its own capabilities in the field.A Memorandum of Understanding (MOU) was signed on Friday (Dec 1) between the Singapore International Mediation Centre (SIMC) and the Japan Association of Arbitrators (JAA).Under the agreement, Singapore will help set up the new Japan International Mediation Centre in Kyoto (JIMC-Kyoto), including putting in place the centre's panel of mediators. 
This will allow SIMC to work with JIMC-Kyoto to promote international commercial mediation in Japan, through joint lectures, seminars, as well as through the training of mediators and advocates, said Singapore's Ministry of Law in a news release.JIMC-Kyoto is Japan’s first and only dedicated international commercial mediation centre, and is projected to begin operations by early 2018.Japanese companies are among the top five foreign users of SIMC, which provides mediation services for parties in cross-border commercial disputes.In the last two years alone, the total value of disputes mediated by SIMC involving Japanese companies totalled more than S$20 million, said the Ministry of Law.“SIMC’s MOU with JAA is a strong endorsement of Singapore’s capability in international commercial dispute resolution," said Senior Minister of State for Law and Finance Indranee Rajah.“It is also a good example of how Singapore can work with other dispute resolution centres in Asia to build up international expertise, so that we can better serve the needs of businesses," she added.
Source: CNA/aa