Analysis of the Procedure for the Recognition and Execution of Foreign Arbitral Awards in MERCOSUR

Abstract

This research considers the current situation for the settlement of investment disputes in MERCOSUR member states. To achieve greater results, the current international legislation has established principles and a broad range of procedures that must be implemented on the trade bloc member states regarding the recognition and execution of foreign arbitral awards. This study applies a descriptive qualitative method. The findings of this study show that there are still some obstacles for the development of investment arbitration, despite its recognition in the current legislations. In this sense this work recommends harmonizing the legal procedures for the institution of arbitration and implementing a Supranational Arbitration Court inside MERCOSUR to increase and make effective the institution of international commerce in the region.