The European Union has joined today the Hague Judgements Convention
, an important tool to facilitate rules-based multilateral trade and investment. The Convention sets out conditions for the recognition and enforcement of judgements in civil and commercial matters, including consumer and employment contracts, and possible grounds for their refusal. The EU’s accession will bring legal certainty and predictability for European businesses, operating in different countries, including outside the EU. Ukraine has also joined the Convention today. Didier Reynders
, Commissioner for Justice, said: Today‘s accession is the culmination of years of intense efforts. By being the first to accede to the Convention together with Ukraine, the European Union paves the way for others to join soon. The wider the accession rate of States to the Hague Judgments Convention, the more powerful an instrument it will become for the benefit of more citizens, more companies, and wider international trade and investment.
To date, six States have signed the Hague Judgments Convention
. The Convention was drawn up in 2019, because diverse laws and practices around the globe made recognition and enforcement of foreign judgments challenging, if not impossible. This legal uncertainty as well as the associated costs for businesses often hindered the flow of international trade and investment, ultimately denying them justice. More information on International Cooperation on Civil Justice can be found here