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India and Singapore signed a Memorandum of Understanding (MoU) on cooperation between the two countries in the sphere of Law and Dispute Resolution on Thursday.
The Memorandum of Understanding was signed in a virtual meeting of the Minister of State for Law and Justice (Independent Charge), Government of India, Arjun Ram Meghwal for the Indian side and the Minister for Culture, Community and Youth and Second Minister for Law, Government of Singapore, Edwin Tong for the Singapore side. The Memorandum of Understanding is on further cooperation between the two countries in the areas of common interest such as international commercial dispute resolution; matters relating to the promotion of robust alternative dispute resolution mechanisms in respective countries and the establishment of a Joint Consultative Committee to oversee the implementation of the Memorandum of Understanding. Arjun Ram Meghwal, in his virtual address, while highlighting the importance of the Memorandum of Understanding stated that "The signing of this Memorandum of Understanding signifies our collective commitment to deepening collaboration in the field of law and dispute resolution, with a focus on sharing best practices, exchanging expertise, and facilitating capacity building initiatives for the stakeholder." "Through this partnership, we are aiming to harness synergies between our legal regimes, leverage our respective strengths and explore innovative approaches to address the evolving needs of our citizens and businesses," Meghwal added. Edwin Tong, the Minister for Culture, Community and Youth and Second Minister for Law, Government of Singapore, while commending the signing of the Memorandum of Understanding stated that "Singapore enjoys excellent, broad-based and multifaceted relations with India. Given our strong economic and commercial ties, it is imperative for us to continually deepen our cooperation in the legal and dispute resolution fields." "This (understanding) will enable us to better support our businesses and those doing business with Singapore and India. We look forward to exchanging our experiences and strengthening our relationships with the India Ministry of Law and Justice, as well as with the various legal and dispute resolution industry players in India," said Edwin Tong. This collaboration therefore marks a key milestone in strengthening cooperation between India and Singapore with a focus on the exchange of best practices in the sphere of law and dispute resolution, which will eventually enable the adoption of efficacious mechanisms for the resolution of disputes through alternate dispute resolution mechanisms. (ANI)
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