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India and Singapore on Thursday signed a Memorandum of Understanding (MoU) on cooperation between the two countries over law and dispute resolution. The MoU is aimed at boosting cooperation between the two countries on issues, including international commercial dispute resolution, a press release issued by the Ministry of Law and Justice read.
The agreement was signed in a virtual meeting, in which India was represented by Union Minister Arjun Ram Meghwal while Singapore was represented by Edwin Tong, the Minister for Culture, Community and Youth and Second Minister for Law for the Singaporean government.
“The MoU is for further cooperation between the two countries in the areas of common interest such as international commercial dispute resolution; matters relating to promotion of robust alternative dispute resolution mechanisms in respective countries and establishment of Joint Consultative Committee to oversee the implementation of the MoU,” the release said.
Meghwal hailed the MoU as a bid to harness synergies between the legal regimes of the two nations. “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,” he said.
Meanwhile, Tong noted that the deal will further facilitate better support for those doing business with Singapore and India. “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,” he said.
“This 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,” Tong added.
