19 January 2009
Cook Islands Accede to United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards
144th party to the Convention
VIENNA, 19 January (UN Information Service) - The Cook Islands have acceded to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (also commonly known as the New York Convention), becoming the 144th party to the Convention. The Convention will enter into force for the Cook Islands on 12 April 2009.
The New York Convention requires courts of States Parties to enforce arbitration agreements and to recognize and enforce arbitral awards made in other States. The Convention is widely recognized as a foundation instrument of international arbitration and provides a significant contribution to facilitating foreign investment and trade.
The United Nations Commission on International Trade Law (UNCITRAL) is the core legal body of the United Nations system in the field of international trade law. Its mandate is to remove legal obstacles to international trade by progressively modernizing and harmonizing trade law. It prepares legal texts in a number of key areas such as international commercial dispute settlement, electronic commerce, insolvency, international payments, sale of goods, transport law, procurement and infrastructure development. UNCITRAL also provides technical assistance to law reform activities, including assisting Member States to review and assess their law reform needs and to draft the legislation required to implement UNCITRAL texts. The UNCITRAL Secretariat is located in Vienna, Austria, and maintains a website at www.uncitral.org .
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For further information contact:
Senior Legal Officer