Union of Chambers and Commodity Exchanges of Turkey

Speaking at the opening of the symposium in TOBB Conference Hall, TOBB Board Treasurer Faik Yavuz explained that they are involved in many fields from research on mediation to policy development activities, from the drafting of the law to administrative practices.

Yavuz stated that there are two conditions for giving a “sense of trust” to foreign investors in mediation, “‎The first is to guarantee confidentiality, and the second is that the process can be carried out institutionally. ‎We see that there are significant developments in our country, especially in these two issues. We are now witnessing a more institutional process of mediation centers. At this point, we would like to state that the mediation law needs to be renewed for the development and institutionalization of this institution.”

Yavuz noted that another important issue for foreign investors is arbitration, and that the TOBB Arbitration Center has continued its activities since 1991 with its autonomous structure.

“TOBB Arbitration Center is also the most experienced national and international arbitration center established in our country. TOBB Arbitration has two main features that stand out. The first is that disputes are resolved within 6 months. The second is that the costs of litigation are much more economical than in courts and other institutional arbitration centers. We are also working with the Istanbul Arbitration Center, of which we are one of the founders, to make İstanbul a preferred arbitration center for our entire surrounding geography.”

Yavuz said that the most important feature of the Singapore Convention is that the peace agreements signed as a result of mediation within the scope of trade disputes make it possible to execute in the parties without the need for an additional court or arbitrator's decision.

- Deputy Minister of Justice Zekeriya Birkan

Deputy Justice Minister Zekeriya Birkan said a solution for mediation and arbitration should be achieved, which both sides have won and are satisfied with. Birkan said that nearly 2 million disputes have been resolved so far in the mediation system, which was commissioned in November 2013.

- Singapore Convention

The United Nations Convention on International Peace Agreements (Singapore Convention) signed by 46 countries, including Turkey, in Singapore on August 7, 2019, came into force on September 12, 2020, with Singapore, Fiji and Qatar completing the domestic law approval process. In Turkey, which has become a party country to the convention from April 11, 2022, investors will have the opportunity to invest with the assurance of the Singapore Convention, and foreign investors and business people in Turkey will feel more legally safe and contribute to improving the investment environment.