News

Sudan accedes to the New York Convention

The UN on Tuesday said Sudan acceded to the New York Convention, becoming the 159th country to do so.

The New York Convention, adopted nearly 60 years ago, is an important agreement in cross-border commercial arbitration.

Courts in countries which are part of the convention agree to recognise arbitration agreements and enforce awards made in other nations.

The Sudanese economy has been hurt by US sanctions, conflicts and loss of oil revenues since it split from South Sudan in 2011.

The United Nations Commission on International Trade Law will hold the 60th anniversary of the Convention on 28 June, at UN Headquarters in New York.

Source: africanreview.com

I-ARB Africa is a product of African Legal Solutions.
Copyright © 2018 African Legal Solutions / Design By Resolution Studio