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Thursday, November 22, 2012

Istanbul set to become international arbitration centre - International Law Office

Istanbul set to become international arbitration centre

November 22 2012

Establishment of a globally renowned arbitration centre in Istanbul has long been discussed. There is concern over the lack of such an institution despite the increasing use of arbitration as an alternative dispute resolution mechanism in Turkey.

The idea of establishing an international arbitration centre in Istanbul was first officially mooted in the Strategy and Action Plan for the Istanbul International Financial Centre, adopted on September 29 2009 by the Higher Planning Council (which is affiliated with the Ministry of Development).(1)

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