The National Assembly approved the Resolution No. 26/IX/2017, of 7th February, which approved the accession of Cape Verde to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958.
Commonly known as the 1958 New York Convention, Cape Verde formed a mutual reciprocity reservation, applying the Convention only to the recognition of Arbitral Awards from other contracting States.
The accession of Cape Verde to this Convention will certainly serve as a tool to foster the long wished certainty and predictability with regard to the recognition and enforcement of Foreign Arbitral Awards, which will certainly help promote the country as an attractive place for investment, in line with the last legal developments in this particular field.