Director General of the World Intellectual Property Organization (WIPO), Dr Francis Gurry,
Acting Minister for Information, Communications and the Arts, Rear Admiral (NS) Lui Tuck Yew,
Distinguished guests,
Ladies and gentlemen,
Good morning.
We gather today, to mark a further milestone in Singapore’s partnership with WIPO.
2 This ceremony marks an important step for two key aspects of our economic policy:
a) First, our Agreement with WIPO reinforces the importance we place on the role of IP in a modern economy. Singapore is a reasonable and responsible partner of WIPO in the efforts to increase protection of IP. We wish to grow as a knowledge economy, an attractive place for companies to emplace and develop their IP, and a place for innovation for both foreign and local companies. For that, IP protection is key.
b) We therefore continue to develop a good framework for protection of IP. And our Agreement with WIPO will establish the WIPO Arbitration and Mediation Center (AMC) in Singapore, here at Maxwell Chambers.
3 The AMC will offer arbitration and mediation in respect of IP related disputes, in this region. It will help develop IP dispute resolution services in Singapore and enhance Singapore’s reputation as a centre for IP protection.
4 It is also good news that WIPO has expanded its Singapore office.
Singapore as an arbitration centre
5 At the same time, the Agreement also reinforces a second aspect: the continuing rise of Singapore as an important international arbitration centre.
6 Singapore is an ideal location to serve the arbitration needs of Asia. Geographically, Singapore is within a seven-hour flight from all the major cities in Asia like Shanghai, Tokyo, Seoul, Jakarta, New Delhi and Sydney. Singapore is a good place for disputes in the region to be heard. Our business is conducted in English. And our legal system and arbitration laws will be familiar to international lawyers.
7 The growth in international arbitration cases in Singapore has in recent years gathered momentum. Many lawyers and arbitrators are familiar and comfortable with Singapore as an arbitration venue. Law firms in Singapore have reported a steady growth in international arbitration over the years and they have responded by increasing the number of lawyers handling arbitration work from Singapore.
8 In this context, our Agreement with WIPO for the AMC to be located in Singapore will add to the expert and specialised ADR services offered in Singapore. I am confident that WIPO AMC will find Singapore a good base from which to serve the region.
9 We wish the AMC the very best.
