Acting on the advice of his Cabinet of Ministers, and on a paper submitted by the Ministry of Foreign Affairs, President Ibrahim Mohamed Solih has decided to submit to the Parliament for their approval, the text of the ‘United Nation’s Convention on International Settlement agreements resulting from Mediation’.
The underlying intention of this convention is to facilitate the smooth flow of trade between signatory states by standardizing international commercial dispute settlement mechanisms, from the compiled agreements between states pertinent to commercial dispute resolution.
General Assembly resolution 73/198 which established this convention was passed on December 28th at a sitting of the United Nation’s General Assembly. The ceremony for signing this treaty is scheduled to be held in Singapore on 7th August 2019.