Bilateral Investment Treaties (BITs) are regarded as a valuable tool to promote and protect foreign investment. BITs signed by Turkey are also the only tool that can be relied on by the Turkish entrepreneurs investing all around the world to protect their investments and related rights.
So far, Turkey has signed BITs with 98 countries, 76 of them are currently in force. The Contracting Parties include all the EU member states except Ireland as well as all the OECD member countries except Iceland, Canada, Norway and New Zealand.
Turkey also follows a dynamic program to conclude new BITs and modify the old ones in line with the new developments in global investment law.
The main purposes of Turkey’s BIT program are to increase the bilateral flows of capital and technology, and provide protection to the investments of international investors in Turkey well as Turkish investors abroad against non-commercial risks in the framework of international law.