ESQ Legal Practice Magazine JUNE 2014 EDITION

BURUNDI'S ACCESSION TO THE NEW YORK CONVENTION, A CONFIRMATION OF THE AFRICAN TREND TO RELY ON ARBITRATION O n 9 May 2014, Burundi was the 151st country to sign the 1958 New York Convention on the recognition and enforcement of foreign arbitral awards. By acceding to the Convention, Burundi followed the footsteps of other African countries, being the 32nd African country out of 54 to adopt the Convention, thus lining up with the global arbitration expansion. Burundi only made one reservation to the Convention, commonly referred to as the “commerciality reservation”, pursuant to which the convention will only apply to disputes characterized as commercial under municipal law. arbitration. Several arbitration centers were created in Morocco, Tunis, Cairo, Mauritius, Cameroun, Harare, Benin, etc… By signing the New York Convention Burundi expresses its determination to comply with international arbitration standards, sending a strong signal regarding the country's commitment to promote international arbitration. Promoting arbitration to improve business Growth in economies of African Africa is opening up to international arbitration countries and the increase of foreign standards investments and cross-border Arbitration is becoming an essential instrument transactions highlight the need for to foster economic development in African predictable methods of dispute countries, which now have in majority resolution and the need for African legislation statutes on domestic and practitioners to take a more prominent international arbitration. However, significant role in international arbitration practice. differences remain between these countries in Adolphe Birehanisenge of the Burundian their approach to the resolution of Agency for the promotion of international commercial disputes. Investments recently told Global Inequalities show that some arbitration Arbitration Review that Burundi entry to regimes are outdated and therefore not the New-York Convention is “an adapted to keep up with

ESQ Legal Practice Magazine JUNE 2014 EDITION | Page 27