Iraq officially joins the Singapore Trade Agreement
The United Nations mission, UNAMI, said on Friday that Iraq officially signed the Singapore Agreement on Mediation, which is an “important” step towards developing the resolution of trade disputes in Iraq.
The Singapore Mediation Convention is a standardized and effective framework for international settlement agreements resulting from mediation, which parties conclude to resolve a commercial dispute.
The Singapore Agreement will facilitate international trade by enabling disputing parties to easily enforce and recall settlement agreements across borders.
Companies will benefit from mediation as an additional option to litigation and arbitration in resolving cross-border disputes. link
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