Readers of Starboard interested in Singapore’s development in the
international dispute resolution arena would note the recent establishment of
the Singapore International Commercial Court (the SICC). This combines a
sophisticated commercial jurisprudence with experienced judges and counsel,
to provide a neutral third party venue for dispute resolution between parties
from different jurisdictions.
This international and cosmopolitan outlook can now only be further enhanced
by changes to Singapore law which will enable parties or the Singapore court
(on its own motion) to refer questions of Dubai law to any court of the Dubai
International Financial Centre (DIFC). This follows in the footsteps of similar
changes which enabled parties or the Singapore court to refer questions of
New South Wales law to the courts of the Australian State.
The sharing of ideas between the two international hubs of Dubai and
Singapore will serve to augment our mutual experience and knowledge as well
as to foster a more sophisticated environment for the development of the law.
This can only be for the mutual benefit of Singapore and Dubai between which
trade has grown manifold from S$4.4 billion in 2001 to S$11.6 billion in 2009,
with further growth expected. With more than 300 Singapore companies
operating in the UAE in a variety of fields, this growing trust and confidence
between our two nations will only be to our advantage.