Maldives sign New York Convention

Maldives have signed the Convention on Recognition and Enforcement of Foreign Arbitral Awards (New York Convention).

Attorney General Ibrahim Riffath signed the convention on behalf of Maldives, with the approval of the parliament. Maldives signed the convention with the aim of establishing a system that accepts and implements decisions of arbitration from international community.

The Maldivian Government expects to create a more enhanced investment climate for businesses and promote investor confidence with signing the convention. Maldives is required to recognise and enforce arbitration awards made in other contracting states.

Maldives became the 161st state to sign the New York Convention which was adopted in 1965.