The Institute of Modern Arbitration is pleased to announce that it has entered into a Memorandum of Understanding (MOU) with the Singapore International Arbitration Centre (SIAC) to support and promote the development of Singapore and Russia’s arbitration regimes.
Under the MOU, SIAC will conduct training programmes, seminars and workshops for IMA and the arbitrators of the Arbitration Center established at the IMA. In addition, the institutions will also co-organise seminars, conferences and workshops in international arbitration.
The MOU was signed by Ms Delphine Ho, Registrar of SIAC, and Mr Andrey Gorlenko, General Director of IMA, at the 8th Session of the High-Level Russia-Singapore Inter- Governmental Commission (IGC8) in Moscow.
Mr Andrey Gorlenko, General Director of IMA, said, “IMA has established The Arbitration Center at the IMA, which is one of the first permanent arbitral institutions authorised by the Russian Government to administer disputes under the new Russian arbitration law. We are delighted to have entered into an MOU with SIAC, and are confident that this collaboration will enable both institutions to forge closer ties with existing and potential users of international arbitration in both Russia and Singapore.”
Ms Lim Seok Hui, CEO of SIAC, commented that “SIAC and IMA agree on the importance of staying focused on providing efficient, expert and enforceable dispute resolution services to parties from diverse legal systems and cultures such as Russia and Singapore. Through this MOU, we hope to work jointly with IMA to promote and develop international arbitration as a preferred mode of dispute resolution for cross-border commercial disputes involving Russian companies and businesses.”