The propensity to transform international business arbitration into a process increasingly employed to solve disputes resulting from these ties is linked to the growing expansion of international trade and investment. International arbitration does not appeal to all states, as indicated by the low level of modernization of essential laws and the lack of judicial practice consolidation. Albania is a country that is similar to the United States.
This article intends to analyze, in a comparative perspective, certain fundamental concerns in Albanian legal framework and even Albanian case law addressing the foreign or domestic status of an arbitral decision and hurdles to its recognition and enforcement in the Republic of Albania, as compared to the New York Convention requirements. In this way, some of the problematic issues addressed by the domestic legal system, as well as the need for future revisions, will be discussed. Adoption and implementation of legal instruments that provide modern enhancements to arbitration institutes while adhering to the international legal framework will be beneficial to the Albanian economy’s integration process.
Author (s) Details
Law Department, Faculty of Economy, ‘A. Xhuvani’ University, Elbasan, Albania.
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