Cape Verde Has Completed The Accession Process To The New York Convention

Last week, the United Nations Secretary- General confirmed that Republic of Cape Verde has deposited its instrument of accession to the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (hereinafter, "NYC"), thereby concluding the process of accession to that convention. As a consequence, the NYC came into force in Cape Verde on 20 June 2018, that is, 90 days from the date on which the instrument of accession was deposited, in accordance with article XII (2) of the NYC.

By entering into the NYC, the Republic of Cape Verde has taken a significant step towards enhancing the confidence of investors through the creation of a more reliable and predictable legal framework of investment protection at least in regard to the recognition and enforcement of foreign arbitral awards.