How Countries Can Fully Implement the New York Convention : A Critical Tool for Enforcement of International Arbitration Decisions

[摘要] The year 2018 marked the 60thanniversary of the New York Convention on the Recognitionand Enforcement of Foreign Arbitral Awards, the mostimportant international convention in the area ofinternational commercial arbitration. The Convention is alsosaid to be the most successful international treaty in thearea of private international law. This note primarilytargets policy makers and their legal advisors in countrieslooking at ways to improve their business environment, tobecome more attractive locations for trade and investment,through better dispute resolution options for internationaltransactions. First, the note explains that internationalcommercial arbitration, as part of countries' legallyrecognized dispute resolution options, is critical tocross-border contract enforcement. As countries strengthentheir international arbitration regimes, they improve theircompetitiveness in international markets and increaseinvestment and trade by reducing transaction risks and thecost of new infrastructure projects. Countries can improvetheir international commercial arbitration systems bypassing modern legislation consistent with internationalbest practice, ratifying international arbitrationconventions, strengthening judicial capacity to enforcearbitral awards, and investing in local arbitration centers.

[发布日期] 2019-12-30 [发布机构] World Bank, Washington, DC

[学科分类] 社会科学、人文和艺术（综合）

[关键词] NEW YORK CONVENTION;ARBITRATION;INTERNATIONAL LAW;SETTLEMENT OF INVESTMENT DISPUTES;TRADE AND INVESTMENT