Özet:

The issue of having recourse to arbitration for disputes arising out of foreign direct investments has gravely affected the agenda of the Republic of Turkey since the mid-1990s, in the context of constructing and operating infrastructure facilities, mainly in the energy sector. Following debates that took nearly four years, international arbitration has been allowed in investment contracts with the state through constitutional changes made in 1999, and opened the way for a wide scope of applications. Furthermore, even before such changes to the Constitution, foreign investors were – and still are – able to enjoy having recourse to arbitration in investment contracts by way of bilateral investment treaties (BITs). Nevertheless, this whole process seems to have taken into account neither the possible detrimental outcome of the investment arbitration practice nor any theoretical concerns. Yet, serious criticisms and warnings have been raised in the foreign literature by academicians and practitioners. Therefore, it is vitally important that such concerns are urgently considered, and – to the extent possible – adequately addressed in the course of negotiating future BITs. By way of presenting – in an overall yet brief and concise manner – the issues of discussions that have been taking place in the foreign literature, this study aims to introduce these crucial concerns into the Turkish jurisprudence, hoping to provoke discussions among academicians, while also attempting to provide a guidance to practitioners

Anahtar Kelimeler: