“Turkey: Ratification of the ICSID Convention and the Enforcement of ICSID Arbitral Awards”: International Arbitration Law Review, Sweet&Maxwell, no: 2012/6, s: 209 – 218.

International arbitration became the major and most effective means of investment dispute settlement as a result of foreign direct investment’s widespread and strong demands for confidence. In this period, ICSID mechanism became the main institution for the dispute settlement between States and foreign investors. The recognition and enforcement mechanism may be cited as one of the most distinctive and important regulation of ICSID Convention.

Turkey signed a number of bilateral investment treaties after 1980 and ICSID Convention in 1987. However, Turkey made a series of notification in the ratification instrument relating jurisdiction of the Centre and dispute settlement procedure between Contracting States on the interpretation and application of the Convention.

This article aims at giving preliminary and prominent knowledge on the place and force of ICSID Convention in Turkish law and the execution of ICSID arbitral awards in Turkey. In this context, the present article is focusing firstly on the force of Turkeys’ notifications and reservation during the ratification of ICSID Convention; secondly the article discusses the jurisdiction of the Centre with regard to investment disputes whose one party being Turkey and finally the article describes the recognition procedure of ICSID arbitral awards in Turkey and enforcement in Turkey of an ICSID Arbitration Tribunal award against an investor, Turkey and a 3^rd Contracting State.

Keywords: FDI, BIT, Turkey; ICSID