“The new world economy is built on technology and this complicates business partnerships and agreements,” she told the conference.
“This is why the speedy resolution of commercial disputes is very important, she added.
Rifat Hisarcıklıoğlu, the president of the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and ICC Turkey chair, said arbitration played a crucial role in doing business.
“In any dispute, a presence of an impartial, objective, respectable, and regular authority protects all parties,” Hisarcıklıoğlu said.
Alexis Mourre, the president of ICC International Court of Arbitration, said Turkey and Istanbul have a promising future for arbitration.
“We believe that the arbitration is about freedom, free competition, transparency, and level playing field,” he added.