Abstract EN:

The increasing latin American participation in international commercial exchanges has brought about a notable change in its approach to international commercial arbitration. In keeping with the ongoing trend toward economic globalisation, the countries of Latin America have found it in their interest to promote a favorable framework for international commercial arbitration, even if it means breaking with their traditionally strong reticence toward this means of dispute resolution. As a result we are now witnessing a true recognition by Latin America of the law of international commercial arbitration. However, this conversion cannot be fully accomplished unless accompanied by actual acceptance of international commercial arbitration in the internal laws of the countries of the region. Unfortunately, it must be recognized that numerous obstacles, not only in Latin American law but also in Latin American culture, undermine the complete acceptance of international commercial arbitration by the countries of latin America. A certain number of improvements are necessary in order for international commercial arbitration to become in Latin America the preferred means for resolution of disputes that it has already become on the international scene.