Global Arbitration body PCA to set up in Singapore
The Permanent Court of Arbitration is to open its first staffed office in Asia and only its second outside The Hague.
The Singapore office administer PCA hearings held in the city state and the wider Asia region, which has seen a rise in cases to at least 7 in 2017, more than double that of 2015.
“The setting up of the PCA office will further augment Singapore’s position as an international hub for dispute resolution, particularly in the new area of investment dispute resolution. The growing number of PCA cases heard in Singapore is testament to the expertise Singapore offers,” said Ms Indranee Rajah SC, Singapore’s Senior Minister of State, Ministry of Law and Ministry of Finance.
Singapore’s Ministry of Law and the PCA signed a Host Country Agreement this week, which is a step-up from the current 10-year Facility Agreement where cases were administered from The Hague.
The new office will be based at the Maxwell Chambers within the next 6 months and will be housed in the new Maxwell Chambers Suites, due for completion in 2019.
“The new office will take the Singapore-PCA partnership to a new level and will create more opportunities for Singapore lawyers and law firms,” added Ms. Rajah.
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