Int’l ADR Centre to host National Symposium on Commercial Mediation

The International ADR Centre (IADRC) Sri Lanka will hold its annual Symposium on Mediation for Commercial Dispute Resolution on January 29 in Colombo which will include technical sessions and panel discussions.

The event is conducted under the Support to Justice Sector Project (JURE) funded by the European Union (EU), and jointly implemented by UNDP and UNICEF Sri Lanka, facilitated by the Ministry of Justice.

Globally, Mediation has become an increasingly popular alternative to litigation and other adversarial dispute resolution processes that often consume time and cost.

Many international organisations including the International Chamber of Commerce (ICC), the World Intellectual Property Organisation (WIPO), the International Centre for Settlement of Investment Disputes (ICSID) (World Bank Group), the London Court of International Arbitration (LCIA), and the International Bar Association (IBA) have adopted their own institutional rules and offers mediation for the settlement of a wide range of disputes.

Many countries in Asia have institutionalized commercial mediation. Centres have been established in Singapore, Hong Kong, Malaysia, India, Pakistan, Bangladesh and the Maldives in recognition of its value, not only to provide for a meaningful process, but also to address the serious issue of law delays.

Sri Lanka also has a body of professionals who have been trained in providing professional mediation services.

All these initiatives will contribute to Sri Lanka improving its Doing Business environment and being accepted as an investment-friendly country, which, with the significant advantage of its strategic location, is thereby poised to become a hub, attracting international business and fostering economic growth.

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