S'pore sets sights on int'l commercial litigation market

[SINGAPORE] Flushed with its success in the sphere of international arbitration, Singapore is gunning for the rest of the dispute resolution market. It is setting its sights on two other areas - international commercial mediation and litigation - in a move that it hopes will bring more work to the local legal sector.

Yesterday, these ambitions took on preliminary form as recommendations for the proposed Singapore International Commercial Court (SICC) and a centre of international commercial mediation were revealed.

"(The SICC) will reinforce our position as the best jurisdiction in Asia and one of the best in the world . . . even though this is international work, the likelihood is that a lot of work will go to our lawyers," Law Minister K Shanmugam said at a press briefing yesterday.