VIENNA, 9 January (UN Information Service) - The State of Palestine has deposited its instrument of accession to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, commonly known as the New York Convention. With its accession, the State of Palestine becomes the 154th State party to the Convention. The Convention will enter into force for the State of Palestine on 2 April 2015.
The New York Convention is widely recognized as a foundation instrument of international arbitration. It requires courts of contracting States to give effect to arbitration agreements and to recognize and enforce awards made in other States, subject to specific limited exceptions.