Union of Chambers and Commodity Exchanges of Turkey

International Chamber of Commerce (ICC) XI International Arbitration Seminar was held in Ankara TOBB Union Center hosted by the ICC Turkey National Committee, hosted by TOBB. Attending the seminar were TOBB and ICC Turkey National Committee President and ICC Board Member M. Rifat Hisarcıklıoğlu, Minister of Justice Bekir Bozdağ and ICC Arbitration Council President John Beechey.

Stating that ICC has become a referential source for arbitration globally, Hisarcıklıoğlu said that, as the Turkish private sector’s leader, he himself has been a member of the committee since 2012.

Drawing attention to the need for Turkish companies to benefit more from ICC’s international arbitration, Hisarcıklıoğlu said, “Turkish companies’ need for an independent and impartial international arbitration mechanism like the ICC is growing exponentially.”

Reporting that as TOBB and ICC Turkey, they working to develop arbitration in not just Turkey but in the region as a whole, Hisarcıklıoğlu called to mind the Jerusalem Arbitration Center established by them last year to provide arbitration to the conflicts between Israeli and Palestinian businessmen.

Stating that it is within Turkey’s grasp to become the arbitration center of its region, Hisarcıklıoğlu went on:

“We have everything that we need. Our legal norms, developed impartially at the center of Central Asia, the Middle East, Eastern Europe and Africa; diversity of our trade; openness to other cultures, values and mentalities puts us a step ahead of other countries. If we are able to take advantage of this potential, there is nothing preventing our country from becoming a preferred center for arbitration.”

Emphasizing that arbitration is an important tool for the solution to many issues domestically in addition to international matters, Hisarcıklıoğlu stated that despite many advances to the legislative structure in recent years, the judicial system is still weighed down under a great burden.

Stating that even disputes for such low figures as 50,000 – 100,000 TRY can last for years in the judicial procedures, Hisarcıklıoğlu said that these can be brought to a resolution by arbitration and settlements.

Pointing out that despite not taking part in these procedures, courts demand verdict payments, Hisarcıklıoğlu suggested to Minister of Justice Bekir Bozdağ that these payments be waived.

ICC Arbitration Council President John Beechey reported that following the events in 2008, the arbitration structure has suffered damage, with 500 cases last year; the figure is expected to decrease this year as well. He went on to state that many arbitration decisions are followed through after the cases are resolved and that it is evident that arbitration decisions are of a high quality.