Taking into consideration the importance of arbitration within the mechanisms of alternative dispute resolution, the Angolan National Assembly approved, on 16.06.2016, the Resolution no. 38/16, of 12nd of August.
Under the terms of the referred Resolution, the Angolan National Assembly approved, for accession purposes, the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, concluded on 10.06.1958 in New York. The main purpose of the New York Convention is the recognition, by the contracting states, of the arbitral awards' authority, regardless the nationality of the parties or the location of the arbitration court, accepting the legal effects arising from the arbitral awards, according to the terms and conditions established in the Convention.
The Resolution now approved establishes a limitation according to which the Convention will only be implemented to the recognition and enforcement of foreign arbitral awards rendered in States bound by the mentioned international instrument and recognized by the Angolan State.
The Convention will only entry into force after a 90 days period counted from the date of the deposit of the accession instrument before the Secretary-General of the United Nations.