Myanmar Embraces International Commercial Arbitration
Myanmar is entering a new chapter in its commercial arbitration history – on January 5, 2016, the country enacted a new Arbitration Law ( Pyihtaungsu Hluttaw Law No. 5, 2016), reforming its domestic legislation to meet its obligations under the Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 ( New York Convention). The Arbitration Law of 2016 provides foreign investors with the option to resolve commercial disputes before a domestic or foreign independent tribunal of the parties’ contracted choice. It also requires Myanmar courts to enforce and recognize foreign arbitral awards which are generally supported by due process and not in opposition to the national interests or policies of Myanmar. For more information contact Tilleke & Gibbins at michael. r@ tilleke. com.