UK aims to become global legal services hub using newfound Brexit freedoms
The government has set out plans to use new Brexit to become a global hub for legal services.
In a document called “The benefits of Brexit: how the UK is taking advantage of leaving the EU,” the government argued that new freedoms under Brexit will allow the UK to become a global centre for dispute resolution.
The paper sets out the government’s plans to boost Britain’s legal sector, which according to the document contributed £29.6bn to the UK economy in 2019.
“Brexit means we have full policy-making competence in Private International Law for the first time since 1999,” the document says.
As set out in the paper, the government is aiming to sign deals with other countries to ensure British lawyers are able to practice in other countries, such as Australia.
The government also said it plans to develop the UK’s mediation sector, as it noted the sector is now worth £17.5bn in 2020, following decades of fast-paced growth.
“In a globalised trading world, it is increasingly important for businesses to look for cost effective measures to resolve cross-border disputes outside of the traditional court route,” the document says.
The document also sets out plans to consult on the UK becoming a party to the Singapore Convention on Mediation.
Doing so would mean that mediation settlements agreed in UK courts would be recognized internationally and international mediated settlement would be recognised in UK courts.
The UK had not signed up to the Singapore Convention on Mediation previously due to having already been signed up to the EU Mediation Directive at the time of the Singapore Convention’s launch in 2018.
The document also sets out plans to launch trade missions to Middle Eastern countries such as the UAE to promote use of the English legal system to settle disputes.
“We remain committed to maintaining the UK’s leadership role in the area of Private International Law, strengthening our existing cooperation and seeking new opportunities with our international partners,” the document says