Ministers and senior officials from more than 50 countries will gather in Singapore to support a new international treaty on mediation when it opens for signature on August 7. The authorized signatory of the Singapore Convention, on behalf of the Government of the Republic of Macedonia, is the Minister of Justice, Renata Deskoska.

The signing of this convention, as the Ministry of Justice said, is a historic event that will bring numerous benefits to foreign investors and companies through the alternative, out-of-court settlement of international trade disputes.

So far, treaties resolving international trade disputes that were reached through mediation – had no protective mechanisms and guarantees for cross-border enforcement.

The United Nation Convention on International Settlement Agreements Resulting from Mediation, known as the Singapore Convention on Mediation, will ensure cross-border enforcement and respect of agreements reached through mediation, providing companies and international investors with greater legal certainty which will increase international trade.