Maldives takes part in the New York Convention

Maldives participated in the New York Convention. (Photo/Ibrahim Riffath)

The Maldives has signed the Convention on Recognition and Enforcement of Foreign Arbitral Awards - better known as the New York Convention.

The convention focusing on the recognition and enforcement of foreign arbitral awards and the referral by a court to arbitration was first implemented during a diplomatic conference of the UN in 1958. The convention was signed by Attorney General Ibrahim Riffath on behalf of Maldives. 

AG Riffath stated that the participation by the Maldives in the convention would empower the efforts of the government of the Maldives to develop and enhance the Alternative Dispute Resolution mechanisms of the country. Maldivian participation in the convention would also gain the country investor confidence and establish a good business environment in the country, stated the Attorney General.

The Maldives became the 161st country to participate in the convention.