The Convention was drawn up in 2019 and has been signed by six states, but the EU and Ukraine are the first states to accede, bringing the Convention into force from 1 September 2023.

The aim of the Convention is to provide legal certainty and predictability for businesses involved in international trade and investment.

Didier Reynders, European 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.”