As noted in our previous blog post here, in March 2021, Iraq passed the "Law on the Accession of the Republic of Iraq to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards". Iraq's accession to the New York Convention was subsequently ratified in May 2021 when that law was published in the Official Gazette.
Following deposit of its instrument of accession with the United Nations Secretary-General on 11 November 2021, the New York Convention will enter into force for Iraq on 9 February 2022. Iraq will become the 169th State Party to the New York Convention, following the accession of Belize in March 2021 as the 168th State Party.
As set out in our previous blog post, Iraq's accession to the Convention is subject to the non-retroactivity, reciprocity and commercial disputes reservations. It is expected that Iraq's accession is intended to facilitate investment in Iraq and further development of its economy as it continues its reconstruction.
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