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Sri Lankan businesses with disputes can look to Singapore for arbitration

Singapore's status as an arbitration hub is backed by the rule of law, neutrality and minimal judicial interference.

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Litigation is the primary way out of disputes between commercial parties, but the process in Sri Lanka is known to be costly and long-drawn. Arbitration is becoming the preferred way for cross-border disputes.

OVER the last 15 years, Sri Lanka has recorded average economic growth of about 6 per cent per annum. In particular, the country has seen a significant surge in its import and export activities, and this cross-border trade demands a fast and cost-effective dispute-resolution mechanism.

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sentifi.com

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