A Memorandum of Understanding (MoU) on cooperation in the fields of law and dispute resolution was inked by Singapore and India on Thursday. Arjun Ram Meghwal, the Minister of State for Law and Justice (Independent Charge) in the Government of India, and Edwin Tong, the Minister of Culture, Community, and Youth and Second Minister for Law in the Government of Singapore, signed the Memorandum of Understanding virtually. The Memorandum of Understanding focuses on advancing cooperation between the two nations in areas of mutual interest, like international commercial dispute settlement; issues pertaining tothe development of strong alternative dispute resolution procedures in the parties’ home countries; and the creation of a Joint Consultative Committe.
“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,” said Arjun Ram Meghwal in his virtual address, stressing the significance of the agreement.
“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.”
We will be able to assist our companies and those conducting business with Singapore and India more effectively with this understanding. “We are eager to share our insights and fortify our connections with the Ministry of Law and Justice in India, in addition to the different stakeholders in the legal and dispute resolution sectors in India,” stated Edwin Tong. Thus, this partnership represents a significant turning point in the development of India-Singapore cooperation with an emphasis on the sharing of best practices in the legal and dispute resolution domains. This will eventually allow for the adoption of effective mechanisms for the settlement of disputes through alternative dispute resolution mechanisms.
