The long awaited Arbitration Law was passed by Myanmar Parliament on 5 January, 2016.
The Law provides expressly for the recognition and enforcement by the Courts of Myanmar of foreign arbitral awards under the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (i.e. the New York Convention of 10 June, 1958), which was previously acceded to by Myanmar on 16 April, 2013. This move will provide a significant degree of investor confidence in Myanmar, as it will enable them to resolve disputes with Myanmar parties by way of arbitration using foreign law and in foreign locations.
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