Enforcement Of Foreign Awards In Kuwait

Introduction

With the world ever moving towards a more globalised structure, clarity and cooperation are more important than ever. The move towards a more integrated world has been occurring for decades, most notably following the end of the Second World War. Some of the most notable examples of this include the formation of the United Nations (“UN”), North Atlantic Treaty Organsisation (“NATO”), World Trade Organisation (“WTO”) and the International Monetary Fund (“IMF”). There are numerous others, though these entities are of massive substance and promote and drive towards a more interconnected world.

Technology has also been a major pushing factor and has been something of a vehicle of the interconnectedness. With the rise and spread of the internet towards the latter stages of the 20th century, and the increasing availability and ease of use of mobile phones, the workday never truly stops and nowhere is genuinely very far away.

All of this has allowed for business to spread to every corner of the world with relative ease, and with the spreading of business, the people have followed. Kuwait is an excellent example of this. While the country is well known for its vast oil reserves, as it has the sixth most significant reserves in the world, it has also been a substantial business magnet. The country has many things going for it. It has a robust economy, and most consider it a high-income and stable nation from an economic standpoint and the World Bank has it ranked as the fourth highest income per capita globally.

Further to this, the country has solid international ties. It is a critical non-NATO American ally and is a crucial ally to the ASEAN trade block. To top this all off, Kuwait has strong relations with China. These all come together to make the country an ideal location for businesses to expand to and grow.

Finally, we come to the main topic at hand the Law. As business and technology have connected the world, so have the laws and regulations which govern it. While each nation and in some cases, individual states within a country have their laws in place to dictate matters, we have also seen the rise of many international treaties and agreements. Due to the sovereign nature of countries, these treaties will have to be ratified and individually implemented within the system though. Beyond this, international agreements do not cover all topics. They relate more to the impactful matters such as international trade and environmental...