Singapore handles 235 new cases of arbitration in 2012

The total number of new cases handled by Singapore International Arbitration Centre increased sharply from 99 cases in 2008 to 235 cases last year, Indranee Rajah, the city-state's Senior Minister of State for Law said on Tuesday.

The total sum of disputes arbitrated in the centre also grew sharply, registered 3.61 billion Singapore dollars (2.84 billion U. S. dollars) in 2012, which was more than the total sum of disputes in 2010 and 2011 combined.

The minister said the city-state is experiencing "a golden age for arbitration", benefiting from the significant growth in intra- Asian trade.

She said the government has also worked hard to build a holistic eco-system that would support the growth and development of the arbitration industry. Therefore, Singapore is recognised as one of the preferred venues for arbitration in the region.

The minister said Singapore expects to deepen its arbitration offering here. One growth area is intellectual property (IP), which represents an emerging and exciting area of immense opportunity.

"We think that it is a good time for us to position ourselves as a hub for IP dispute resolution by establishing a panel of top IP arbitrators in Singapore to enhance the international profile of our IP arbitration capabilities, and attract more IP-related cases," she added.