The Signing Ceremony of Tripartite Memorandum of Cooperation and Forum on Xiamen-Singapore Maritime Dispute Resolution and Management is held in Xiamen. [Photo by Lin Yuyang for ftz.xm.gov.cn]

The Signing Ceremony of Tripartite Memorandum of Cooperation and Forum on Xiamen-Singapore Maritime Dispute Resolution and Management was held in the Xiamen Free Trade Zone on June 17. The event was attended and supported by over 20 domestic and international maritime-related organizations.

Xiamen and Singapore share profound historical ties and close exchanges. As a key node in the Belt and Road Initiative, the Port of Singapore plays a pivotal role in regional connectivity. The two cities have been deepening regional cooperation in maritime governance and arbitration.

The tripartite memorandum of cooperation was signed by the Xiamen FTZ Administrative Committee, Singapore Chamber of Maritime Arbitration (SCMA), and the Maritime Silk Road International Arbitration Promotion Center. It marks a significant step forward in strengthening maritime collaboration between the two maritime hubs.

The three parties will adhere to the principles of "mutual benefit, resource sharing, and institutional innovation" to deepen cooperation in three key areas: alignment of international maritime arbitration rules, facilitation of cross-border dispute resolution, and talent development in shipping and ESG fields.

This collaboration aims to drive innovation in maritime arbitration mechanisms and enhance the efficiency of transnational dispute settlement.

The partnership represents a significant milestone in deepening Xiamen-Singapore collaboration in arbitration. By establishing a regularized exchange mechanism and resource-sharing platform, the three parties will jointly drive innovation in maritime arbitration mechanisms and enhance the efficiency of transnational dispute settlement.

The signing ceremony of Tripartite Memorandum of Cooperation. [Photo by Lin Yuyang for ftz.xm.gov.cn]