Bilateral investment treaties and international arbitration
To date, Turkey has signed treaties on mutual encouragement and protection of investments with 82 countries, with the purpose of increasing capital and technology flow with the signatory states and determining the terms of conduct to be applied to the foreign investments in the host states. Of these bilateral investment treaties, 74 have been approved by the Grand National Assembly and are thus in force.
BITs signed by Turkey primarily provide for two international arbitration mechanisms for dispute resolution - those governed by the UN Commission on International Trade Law and those governed by the International Centre for Settlement of Investment Disputes (ICSID). ICSID arbitration has been included in all BITs signed after June 24 1987 (ie, the date on which Turkey signed the Washington Convention)…
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