By Amin Kef Sesay – 9th August 2019
Deputy Minister of Justice, Umaru Napoleon Koroma is among representatives from over 70 countries in the signing of the UN Convention on International Settlements Resulting from Mediation in Singapore.
The gathering, dubbed the Singapore Convention, aims to settle cross-border commercial disputes and stabilize trade relationships among member countries. The convention itself was signed by 46 UN members including the United States and China.
It is expected that the convention will create a global framework that will give businesses greater confidence to settle international disputes through mediation rather than resorting to court.
“As Sierra Leone desperately needs foreign direct investment, the convention will significantly boost investor confidence which has been a key pillar in the New Direction’s manifesto on economic development” said Mr. Koroma.
Mediation has been used to settle commercial disputes in jurisdictions like the United States and the United Kingdom. To be globally accepted, the credibility of the process must improve and the convention will no doubt help in this direction.
Mr. Napoleon Koroma, a renowned legal luminary with a big reputation as a successful mediator on corporate matters was apparently considered a worthy representative from Sierra Leone.
The signing will be ratified by the Sierra Leone Parliament in due course.