Myanmar contract dispute may be arbitrated in foreign aribitration centres in the future?

Myanmar has become a signatory to the New York Convention on 6th March 2013.

This means that in future foreign investors can use neutral arbitration centres such as Hong Kong or Singapore to resolve contractual dispute. Once enforced, arbitral award made in the 144 signatory countries will be enforceable in Myanmar and vice versa.

What is not clear is the time scale of its implementation as Myanmar will need to update its archaic arbitration law and build a judiciary that can implement any foreign arbitral award in a impartial and consistent manner.

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