As reported in an earlier post, the Myanmar Parliament on 6 March 2013 approved plans to sign the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the “Convention”). While this was seen as a positive step on the part of the Myanmar government, it was unclear as to the timeframe within which Myanmar would accede to the Convention.
In a move that should encourage foreign investors, Myanmar is understood to have deposited an instrument of accession with the Secretary-General of the United Nations (the “Secretary-General”) on 16 April 2013 , consenting to be bound by the Convention, and thereby acceding to it (see UN Journal 25 April 2013). Accession has the same legal effect as ratification. Please click here to read our post on our Arbitration blog.
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