The Turkey-Belarus Bilateral Investment Treaty Came Into Force
The Presidential Decree on the ratification of the “Agreement Between the Government of the Republic of Turkey and the Government of the Republic of Belarus Concerning the Reciprocal Promotion and Protection of Investments” (“the BIT”) has been published in the Official Gazette dated 13 December 2022.
With the Presidential Decree No. 7164 published in the Official Gazette on 25 April 2023, it was determined that the Agreement entered into force on 30 December 2022.
The Agreement replaced the Turkey-Belarus Bilateral Investment Agreement of 1995. Pursuant to Art. 2/2, the Agreement shall apply to disputes submitted to arbitration after the effective date. The Agreement provides for dispute resolution through
(1) host state courts,
(2) arbitration before ICSID,
(3) arbitration under the UNCITRAL Arbitration Rules, or
(4) arbitration under rules agreed upon by the parties.
Tagged with: Akıncı Law Office, Ziya Akıncı, Beril Kasap, Dispute Resolution
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