Singapore, 25 July 2018 - Businesses are expanding rapidly across Asia. ASEAN is currently the 6th largest economy in the world and last year, East Asia and the Pacific grew 6.6%, more than double the 3.1% growth rate of the global economy. This economic growth, however, has been burdened by the diversity of Asian legal systems. The fragmented legal and regulatory landscape in Asia has resulted in uncertainty and cost as businesses contend with significant variation in local laws when dealing across borders. It has become increasingly important to consider how the harmonisation of international trade and commercial laws holds potential to strengthen regional and international markets.
Today (25 July 2018), the UNCITRAL Regional Centre for Asia and the Pacific and Asian Business Law Institute (ABLI) are jointly hosting the Emergence Conference titled Asian Perspectives on the Future of the Harmonisation and Convergence of Business Laws at the Supreme Court of Singapore. The conference provides a platform for 25 speakers from across 13 jurisdictions, with five expert panels to examine the impact of emerging trends on regional and national business environments from an Asia-Pacific perspective. Panels will discuss The Digital Economy and its Impact on the Law; Issues in the Standardisation of Contract Laws; Developments in Finance, Banking and Investment; Commercial Dispute Resolution in a Globalised World; and Shifts in the International Dispute Resolution Landscape.
The Keynote Address was delivered by Mr Ng How Yue (Permanent Secretary to the Ministry of Law). The Welcome Addresses were delivered by The Honourable the Chief Justice Sundaresh Menon (Supreme Court of Singapore) and Mr Luca Castellani (Secretary of UNCITRAL Working Group IV (Electronic Commerce)).
The UNCITRAL-ABLI Emergence Conference takes place immediately before the ASEAN Law Association’s (ALA) ASEAN Law Conference. It is part of a week-long series of events by the legal community to reflect on the latest legal developments and chart a course for the future.
More information is available at the Emergence Conference Website.
The Asian Business Law Institute was launched in January 2016. It is a permanent institute based in Singapore that initiates, conducts and facilitates research with a view to providing practical guidance in the field of Asian legal development and promoting the convergence of Asian business laws. Its mission is to remove unnecessary or undesirable differences between Asian legal systems that pose obstacles to free and seamless trade. ABLI’s long-term strategic direction in accordance with its aims is set by its Board of Governors chaired by The Honourable the Chief Justice Sundaresh Menon of the Supreme Court of Singapore. The Board comprises representatives from Australia, China, India and Singapore and other internationally renowned legal experts.
Foo Kim Leng (Ms)
Tel: 6332 5365 / 9635 8850
Alyssa Nyam (Ms)
Tel: 6332 5371 / 9773 2333