On 2 July 2019, the delegates at the Diplomatic Session of the Hague Conference on Private International Law, after almost 30 years of efforts, adopted the Convention on the recognition and enforcement of foreign judgments in civil and commercial matters. This multilateral treaty compels contracting states to recognize and enforce judgments rendered in any other contracting state regarding said matters.
It should be noted that enforcing the Convention is not absolute, given it expressly excludes matters such as family law, estate law, bankruptcy, slander, privacy, intellectual property, as well as arbitration and related proceedings.
As of this date, the Convention is available for signing. Uruguay became the first party to the treaty, and for it to take effect, it is necessary that at least another country sign and ratify it. Once in force, any state may join.