Date :
18/02/2016
Updates on Ratification of International Conventions, Bilateral Investment Treaties and International Cooperation Agreements have been published on the 18 February 2016 edition of the Official Gazette.
The latest ratifications of the Turkish Grand National Assembly seem to enhance and strengthen Turkey’s integration into international legal framework of human rights, investment, trade and defense industry.
The latest ratifications of the Turkish Grand National Assembly which seem to enhance and strengthen Turkey’s integration into international legal framework of human rights, investment, trade and defense industry are as follows:
- Protocol No. 15 amending the Convention on the Protection of Human Rights and Fundamental Freedoms;
- Convention for the Protection of Individuals with regard to Automatic Processing of Personal Data;
- Defense Industry Cooperation Agreement between Federal Government of Somalia and Republic of Turkey;
- Trade and Economic Cooperation Agreement between Republic of Surinam and Republic of Turkey;
- Trade and Economic Cooperation Agreement between Republic of Mauritius and Republic of Turkey;
- Bilateral Investment Treaty between Republic of Mauritius and Republic of Turkey;
- Bilateral Investment Treaty between Republic of Djibouti and Republic of Turkey;
- Ratification of Amendment Resolution dated 1/2013 to Free Trade Agreement between Republic of Chile and Republic of Turkey.
Importantly, while abovementioned two new BITs increased total number of ratified BITs to 78, they also underline Turkey’s active policy of past 15 years, concerning expansion of its international economic relations in alignment with novel and modern strategies that prioritise investment arbitration. Likewise, it is safe to assume that the volume of trade and other economic parameters, especially exporting, between Chile and Turkey in the wake of President Erdogan's visit, will advance by the recent amendment, which introduced diagonal cumulation with the European Union.
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