Latin America has experienced continuous economic growth for over a decade. This growth has been accompanied by increased international commerce and foreign direct investment. At the same time, Many Latin American countries have overcome a traditional reluctance to embrace international arbitration (which can be traced to the so-called Calvo doctrine, which held that foreign parties should not be entitled to a higher degree of protection than local parties and therefore had to submit their claims to local courts) and have taken steps to modernise their legal frameworks for international arbitration. Brazil's embrace of international arbitration has received particular publicity, and it is making considerable efforts to promote international arbitration.
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Originally published by Commercial Dispute Resolution
November/December 2013
www.cdr-news.com/
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