📈 Sri Lanka Enacts Commercial Mediation Framework to Boost Business Confidence

• Key Milestone: Twenty-five corporate entities signed the inaugural Corporate Mediation Pledge hosted by the International Alternative Dispute Resolution Center, Sri Lanka (IADRC) at Port City Colombo, committing to mediation as a primary dispute resolution mechanism. • Legislative Support: The initiative builds on the Mediation (Civil and Commercial Disputes) Act, No. 13 of 2026, which came into operation on June 30, 2026. The law establishes standard procedures, defines mediator responsibilities, and provides a formal framework for recognizing and enforcing mediated settlement agreements. • Business & Economic Impact: Enhances corporate governance and investor confidence by offering a confidential, collaborative, and time-efficient alternative to traditional court proceedings. This helps protect commercial relationships, lowers legal overheads, and reduces operational disruptions for key sectors including financial & legal services, trade, and general corporate operations. • Global & Regional Positioning: Leverages Sri Lanka’s strategic location along Indian Ocean trade routes and modernized legal ecosystem to position the nation as a regional hub for cross-border commercial dispute resolution and foreign direct investment. • Partners: Organized by the IADRC, supported by The Asia Foundation, with Colombo Port City as venue partner.