Blacks Law Dictionary
since ethiopia ratifies the new york convention in parlament throu proclamation indeed it is inevitable to provide he convention by our web. On February 13, 2020, the Ethiopian parliament approved the ratification of the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the “Convention”). The Convention was adopted by the United Nations diplomatic conference on 10 June 1958 and entered into force on 7 June 1959. To date, 161 states have become parties to the Convention. Ethiopia signed the Convention early on but stalled the ratification for more than 60 years. The ratification of the Convention results in the legislation becoming an integral part of the law of the land. Further, the ratification comes at a time when Ethiopia is currently drafting a new and comprehensive domestic arbitration legislation whose advanced draft circulated for public consultation suggests that it is modeled after the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Commericial Arbitration. In this issue of our legal update, we consider the substance of the Convention and the significance of its ratification by Ethiopia.