The Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 10 June 1958 — known as the New York Convention — reached 175 signatory states in March 2026 with the accession of Ethiopia, Timor-Leste and Suriname.
The Convention obliges the contracting states to recognise and enforce foreign arbitral awards within their jurisdictions under limited grounds for refusal (Article V). It has become the most successful international convention in the field of commercial law — covering approximately 98% of the world economy.
Significance for international arbitration
On this occasion, the UNCITRAL Secretariat recalled that the Convention represents the cornerstone of international commercial arbitration and that its universal character is key to the attractiveness of arbitration as the preferred mechanism for resolving disputes in cross-border transactions.
States outside the Convention
Among the states which have not yet signed the Convention are, in particular, North Korea, Turkmenistan and several Caribbean island states. UNCITRAL has long campaigned for universal ratification.
Source: UNCITRAL — Status of the New York Convention