Anti Dumping

 A Brief Analysis of the Singapore Convention

by Pi Legal Consultancy

1.Introduction

This article will provide a brief analysis of the Singapore Convention. Disputes on international trade and friendly settlement have been a matter of discussion on the international plane over the years. 

2. What is the Singapore Convention?  

On 20 December 2018, the United Nations General Assembly, by consensus, passed a resolution to adopt the United Nations Convention on International Settlement Agreements Resulting from Mediation. The General Assembly named this new agreement as “the Singapore Convention on Mediation’.  As the Assembly authorised the signing ceremony of the Convention to be held in Singapore on 7 August 2019, the Convention is also called as Singapore Convention. 

3. What does the Singapore Convention do?

The Singapore Convention on Mediation intends to ‘facilitate international trade and commerce by enabling disputing parties to easily enforce and invoke settlement agreements across borders’.  The Convention is based on concluding international settlement agreements through mediation. The text of the Convention will be at the centre of settling cross-border disputes.

4. How many countries signed the Convention?

As of 18 May 2022, the number of signatories increased to 55.  

5. How many countries ratified the Convention?

Only 9 states complemented the ratification process of the Convention up to now:   Belarus, Iran, Georgia, Saudi Arabia, Turkey, Singapore, Qatar, Honduras.  Georgia is the most recent party to the Convention. 

6. Is the Republic of Turkey party to the Convention?  

Turkey adopted the Law (No:7282) approving the ratification of the Singapore Convention on Mediation. 

Turkey is, therefore, a party to the Convention.  

7. Is the Singapore Convention in force?

The Convention is open to signature after the ceremony held in Singapore on 7 August 2019.

In accordance with its text, for the relevant state, the Convention comes into force six months after the deposit of the third instrument of ratification, acceptance, approval or accession.  The completion of one of such procedures will be sufficient in enforcing. 

8. Is the Singapore Convention on Mediation in force within the jurisdiction of Turkey?  

‘When a State ratifies, accepts, approves or accedes to this Convention after the deposit of the third instrument of ratification, acceptance, approval or accession, this Convention shall enter into force in respect of that State six months after the date of the deposit of its instrument of ratification, acceptance, approval or accession’.  

Turkey adopted the Law (No:7282) approving the ratification of the Singapore Convention on Mediation, published in the Official Gazette on 11 March 2021. 

The Law (No:7282) approving the ratification of the Singapore Convention on Mediation was approved by the Presidential Decree on 21 April 2021.

With the deposit of the instrument of ratification at the UN Headquarters in New York, Turkey becomes the eighth State Party to the Convention. The ratification by Turkey was effected on 11 October 2021. Accordingly, the Singapore Convention on Mediation entered into force in Turkey, as of 11 April 2022.  

9. Conclusion

As analyzed above, the Singapore Convention on Mediation is designed as a uniform and efficient legal framework on the international plane. It is applicable to international settlement agreements resulting from mediation within the jurisdiction of 9 countries including Turkey for now, and 55 countries in the near future. 

  

Pi Legal Consultancy is an international law firm based in Ankara (Turkey) that offers legal consultancy and advocacy. We deliver legal services in key legal areas, among others, arbitration, healthcare, real estate, citizenship, corporate governance, banking and finance, energy and mining.