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3. 4.5
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international
relations a Contracting State is responsible,
except those which are excluded by such State by written notice to the depositary of the Convention.
6.
The
March 1965.
Convention was signed at Washington on 18
The United Kingdom ratified the Convention on
1966 and Hong Kong was included in the
(reference at Annex B). The PRC signed the Convention on 9 February 1990 but has yet to ratify it.
19
December
ratification
Benefits
7.
financial and
It is vital that Hong Kong, as an international
trade centre, should retain this most
efficient opportunity to settle investment
an international level.
The Centre is
appropriate and
disputes at
recognised as a specialist forum for the settlement of investment disputes. It requires that recommendations of
conciliators be given due consideration and that arbitral
awards be complied with.
to
The availability of such a
channel for settling disputes in Hong Kong will therefore help
promote international investment in Hong Kong and also the development of co-operative economic relations between Hong Kong and other regions. It is also important for continued commercial confidence that awards rendered
pursuant to this Convention may continue to be recognised as binding by the courts of the Hong Kong SAR and enforced
as if they were
final
judgments
of
those
courts. In
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