Turkmenistan

2022 in Review, Arbitration Act, HK Arbitration Week, Hong Kong, Interim measures, ISDS, Japan, Korea, Legislative amendment, Macau, New York Convention, PRC, Taiwan, Treaty, Turkmenistan, Uzbekistan

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East and Central Asia made further strides to promote arbitration, including through legislative reforms and enhancement of judicial assistance, as well as the accession, ratification, and creation of treaties.  Some domestic courts clarified views on fundamental issues in arbitration.  On the user side, East and Central Asian parties continued to be active as both claimants…

CIS, New York Convention, Turkmenistan

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On 17 April 2022, the president of Turkmenistan signed a law on accession of Turkmenistan to the 1958 Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the “New York Convention” or “Convention”). The Government of Turkmenistan deposited the instrument of accession with the Secretary-General of the United Nations on 4 May 2022. In…

Astana International Financial Centre, Central Asia, Kazakhstan, Kazakhstan Law on Arbitration, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan

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Kazakhstan has been making concerted efforts to increase foreign investment and to reduce its dependency on extractive industries which have long dominated production. In 2015, when it was ranked 77th out of 190 countries for doing business, the then President introduced a “100 Concrete Steps” Plan to make the country one of the top 30…

Arbitration, Arbitration Proceedings, Enforcement, Enforcement of an arbitration clause, International arbitration, Set aside an arbitral award, Set aside an international arbitral award, Turkmenistan

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The specter of communism that was once lingering over the Europe has long faded away, and the alliance, one of the biggest socialist experiments in the history of mankind, that stood to safeguard and promote its ideals has failed. In 1991 out of the remains of the Soviet Union emerged five independent Central Asian states….