Parliament has on Tuesday approved the “United Nations Convention on International Settlement Agreements Resulting from Mediation”, or the “Singapore Convention on Mediation”.
74 lawmakers voted in favour of Maldives signing the treaty, after the committee on national security and foreign relations presented its report to the parliament floor.
Committee chair, Addu-Maradhoo constituency MP Ibrahim Shareef read out the report at the sitting, and noted that the treaty will increase opportunities for Maldivian business owners.
He further noted that committee members believe that the convention is important as the country’s business continue to expand.
Shareef also highlighted that the government is working on a “mediation bill” to parliament, which is to be submitted to parliament as soon as the “United Nations Convention on International Settlement Agreements Resulting from Mediation” is ratified.
The United Nations adopted the United Nations Convention on International Settlement Agreements Resulting from Mediation during its general assembly in December 2018. While the government of Singapore had offered to host a signing ceremony, this ceremony is to be held in Singapore on August 7.
“The Convention is an instrument for the facilitation of international trade and the promotion of mediation as an alternative and effective method of resolving trade disputes”UN Commission on International Trade Law
The mediation treaty was sent to parliament in July.
