On 4 March 2021, Malawi acceded to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (also commonly known as the "New York" Convention), becoming the 167th State Party to the Convention. The Convention will enter into force for Malawi on 2 June 2021.
Subsequently on 15 March 2021, Belize became the 168th State Party to the Convention. The Convention will enter into force for Belize on 13 June 2021.
The New York Convention requires contracting states to recognize and enforce foreign arbitration awards in the same way as domestic awards, by converting the foreign arbitration award into a judgment enforceable by a national court. Another purpose of the New York Convention is to ensure that contracting states uphold valid arbitration agreements by staying court proceedings that have been started in breach of such agreements.