Aug 7, 2019, 4:36 PM
Journalist ID: 2374
News Code: 83429362
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Iran joins Singapore Convention on Mediation for Settlement of Trade Disputes

Tehran, Aug 7, IRNA – Deputy minister of the Judiciary for human rights and international affairs Mahmoud Abbasi said on Wednesday that Iran has joined the Singapore Convention on Mediation for Settlement of Trade Disputes which envisaged advanced standards for arbitration of trade disputes upgrading former settlement agreements.

Abbasi told IRNA that Iranian accession to the Singapore Convention on Mediation for Settlement of Trade Disputes was signed by Iranian Minister of Justice Alireza Avaei.

The cabinet members had earlier issued permission for accession to the Singapore Convention, he added.

While the US has so far withdrawn from major international agreements, challenging all the rules of international trade and business including the regulations of the World Trade Organization in addition to waging tariff war against China and other countries, signing the Singapore Convention is important trade document is of importance for Iran, he noted.

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