A very warm welcome to all delegates, to Singapore and to the Singapore Convention Signing Ceremony and Conference.

The United Nations Convention on International Settlement Agreements Resulting from Mediation, also known as the Singapore Convention on Mediation, is the missing piece in the international dispute resolution enforcement framework, which currently includes the Convention on the Recognition and Enforcement of Foreign Arbitral Awards and the Hague Convention on Choice of Court Agreements. It will help enhance the cross-border enforceability of mediated settlement and businesses will benefit with greater certainty and assurance.

The United Nations Convention on International Settlement Agreements Resulting from Mediation (the "Singapore Convention on Mediation") was adopted on 20 December 2018 by the General Assembly resolution 73/198. This Convention applies to international settlement agreements resulting from mediation. It is an instrument to facilitate international trade and to promote mediation as an alternative method of resolving disputes. As a binding instrument, it is expected to bring certainty and stability to the international framework on mediation, thereby contributing to the United Nations Sustainable Development Goals, mainly the Goal 16 on promoting just, peaceful and inclusive societies.