NEWS

It’s a Go For Singapore Convention Ratification

Known as the Singapore Convention, the motion was supported by both sides of the House on Thursday.
18 May 2019 17:24
It’s a Go For Singapore Convention Ratification
United Nations Secretary–General Antonio Guterres, with the Speaker of Parliament Ratu Epeli Nailatikau outside Parliament on May 16, 2019. Photo: Ronald Kumar

Parliament has approved that Fiji sign and ratify the United Nations Convention on International Settlement Agreements resulting from Mediation.

Known as the Singapore Convention, the motion was supported by both sides of the House on Thursday.

The convention seeks to facilitate international trade or promote mediation as an alternative effective method of resolving international commercial disputes.

Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum said with the approval of the convention it would make it easier for businesses in Fiji to enforce mediator settlement agreements with cross-border counterparts.

He said the convention would allow the enforcing party to go directly to a court in where enforcement is sought instead of first obtaining

court judgement for breach of contract.

The court would then enforce the settlement agreement in accordance with State party’s rule and procedures and under the conditions laid down in the convention.

Mr Sayed-Khaiyum said Government wanted to position Nadi as a mediation hub for international disputes regarding contracts in the Pacific, where Fiji would provide the alternative point of dispute resolution for Pacific Island countries.

Singapore is internationally renowned for mediation purposes, he says and “we want to provide that environment too”.

Opposition whip Lynda Tabuya, on behalf of the Opposition members, said they fully supported the convention.

The signing ceremony for the convention will be in Singapore on August 7.

Edited by Epineri Vula

Feedback: selita.bolanavanua@fijisun.com.fj




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