Israel, which last summer lost a multi-million dollar suit against the Soviet Union in a Moscow arbitration court, today became the first country to ratify a new United Nations convention on recognition and enforcement of foreign arbitral awards. Among the countries that have already signed but not yet ratified the convention, is the Soviet Union.
The convention, which was adopted at a special UN conference last June, is designed to assure that a private agreement to arbitrate will be fully respected by the courts of all countries that become parties to this treaty.
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