Law

Angola approves its accession to the New York Convention

By José Alves do Carmo and Tiago Pereira Monteiro, AVM Advogados

The Republic of Angola approved its accession to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards by means of the publication of the National Assembly Resolution no. 38/2016 of 12 August 2016.

Against that background, the President of the Republic issued the Accession Charter (‘Carta de Adesão’) no. 10/16, which was published in the Official Gazette on 19 December 2016, and such instrument of accession to the Convention was deposited with the Secretary-General of the United Nations on 6 March 2017. Therefore, the Convention entered into force for Angola on 4 June 2017 due to the 90 day ‘vacatio legis’ period set under article 12.2. of the Convention.

It is worth noting that the Republic of Angola, under the terms of article 1.3. of the Convention, included a reservation in the Resolution no. 38/2016 of 12 August 2016 according to which ‘on the basis of reciprocity, the Republic of Angola will only apply the Convention provided that the arbitral awards have been made in the territory of [other] Contracting States and which are recognised by the Angolan State’.

Through this accession, Angola became the 157th State party to the New York Convention. By setting out the requirements for the recognition and enforcement of foreign arbitral awards, the Convention is normally regarded as a valuable instrument to improve confidence among foreign investors, not only by enhancing legal certainty, but also by contributing to speed up the process of recognition and enforcement of foreign arbitral awards.


José Alves do Carmo

José Alves do Carmo

AVM Advogados, Luanda, Angola
T: +244 933 855 553, F: +244 222 338 407
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Tiago Pereira Monteiro
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Tiago Pereira Monteiro

AVM Advogados, Luanda, Angola
T: +244 933 855 553, F: +244 222 338 407
E: xxx; W: www.www.avm-advogados.com
 


Published: July 2017 l Photo: siempreverde22 - Fotolia.com

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