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US Export-Import Bank says Cape Town Treaty is on track for stepping into force in 2006.


The Export-Import Bank of the United States (Ex-Im Bank) announced today (4 November) that the Cape Town Treaty, an international treaty to facilitate the cross-border financing and leasing of large commercial aircraft and aircraft engines, is now on track to enter into effect on 1 March 2006.

The bank's statement comes after the accession to the treaty by Malaysia, as Malaysia became the required eighth country to ratify or accede to the treaty and the related aircraft protocol.

The government of Malaysia has deposited its instruments of accession to the Cape Town Treaty and the related aircraft equipment protocol with the International Institute for the Unification of Private Law (UNIDROIT), the independent inter-governmental organisation based in Rome, Italy, that serves as the depositary.

In addition to Malaysia, the treaty has been ratified or acceded by Ethiopia, Ireland, Nigeria, Oman, Pakistan, Panama and the United States.

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Comment:US Export-Import Bank says Cape Town Treaty is on track for stepping into force in 2006.
Publication:Airline Industry Information
Article Type:Brief Article
Geographic Code:4E
Date:Nov 4, 2005
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