MALAWI BECOMES 167TH CONTRACTING STATE TO THE NEW YORK CONVENTION

Malawi has become the 167th Contracting State to the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the ‘Convention’). On 4 March 2021, Malawi deposited its instrument of accession to the Convention with the UN Secretary General. In accordance with article XII (2), the Convention will enter into force for Malawi on 2 June 2021.

Malawi made declarations that it will only apply the Convention with respect to: (i) recognition and enforcement of awards made in the territory of another contracting State (the so-called “reciprocity reservation”); (ii) differences arising out of relationships that are considered commercial under the national laws of Malawi (the so-called “commercial reservation”); and (iii) arbitration agreements concluded, or arbitral awards rendered, after the date of accession.

In recent years, Malawi has seen significant economic growth and there is an appetite to attract foreign investors. Malawi’s accession to the Convention is a further sign of its commitment to attracting foreign investment. Malawi is also a member of the Common Market for Eastern and Southern Africa (COMESA), the African Continental Free Trade Area (AfCFTA) and the Southern African Development Community (SADC). Malawi is the 42^nd African State to become party to the Convention.

For further information, please contact Andrew Cannon, Partner, Rebecca Warder, Professional Support Lawyer or your usual Herbert Smith Freehills contact.

The authors would like to thank Jonas Thierens for his assistance in preparing this blog post.