New Delhi, Mar 14 (IANS): India and Singapore on Thursday signed a Memorandum of Understanding (MoU) on cooperation in the sphere of Law & Dispute Resolution, according to an official statement.

The MoU was signed in a virtual meeting of the Minister of State for Law and Justice Arjun Ram Meghwal and Singapore's Second Minister for Law, Edwin Tong.

The MoU provides for further cooperation between the two countries in the areas of common interest, such as international commercial dispute resolution; matters relating to the promotion of robust alternative dispute resolution mechanisms in the respective countries and establishment of a Joint Consultative Committee to oversee the implementation of the MoU, according to the Law Ministry statement.

Arjun Ram Meghwal said: "The signing of this Memorandum of Understanding signifies our collective commitment to deepening collaboration in the field of law and dispute resolution, with a focus on sharing best practices, exchanging expertise, and facilitating capacity building initiatives for the stakeholder.

"Through this partnership, we are aiming to harness synergies between our legal regimes, leverage our respective strengths and explore innovative approaches to address the evolving needs of our citizens and businesses," he added.

Meanwhile, Edwin Tong said: "Singapore enjoys excellent, broad-based and multifaceted relations with India. Given our strong economic and commercial ties, it is imperative for us to continually deepen our cooperation in the legal and dispute resolution fields. This will enable us to better support our businesses and those doing business with Singapore and India. We look forward to exchanging our experiences and strengthening our relationships with the Indian Ministry of Law and Justice, as well as with the various legal and dispute resolution industry players in India."