In a groundbreaking move set to transform the landscape of international arbitration and mediation, India and Turkey have forged a strategic alliance to advance Alternative Dispute Resolution (ADR). This significant partnership was cemented through a Memorandum of Understanding (MOU) between the Asia-Pacific Centre for Arbitration & Mediation (APCAM) and the Union of Chambers and Commodity Exchanges of Turkey Arbitration Center (TOBBUYUM). The collaboration is poised to enhance cross-border trade and fortify business relations between the two nations.
Leading this initiative are Sr. Adv. Anil Xavier, Chairman of APCAM, and Ms. Iram Majid, Executive Director of APCAM, whose commitment to ADR is anticipated to bring substantial advancements in international dispute resolution. On June 1, 2024, TOBBUYUM, in collaboration with Turkey’s Ministry of Law and Justice, hosted a celebratory event featuring eminent guests from both countries. These distinguished participants provided valuable insights into the future of ADR.
Key Participants and Insights
The event saw participation from notable Indian figures such as HMJ Surya Kant, Judge of the Supreme Court of India; HMJ S.R. Bhat, Former Judge of the Supreme Court of India; Sr. Adv. Anil Xavier, and Ms. Iram Majid. Representing Turkey were Mr. Hakan Oztatar, General Director of Legal Affairs at the Ministry of Justice; Mr. Cagdas Ozer, Head of the Mediation Department at the Ministry of Justice; Dr. Onur Yuksel, General Manager of TOBBUYUM, and Mr. Hakan Ali Turgut, Former Judge, among others.
Discussions during the event emphasized the crucial role of ADR in the global economy, highlighting best practices, addressing challenges, and exploring future opportunities in arbitration and mediation. This exchange of expertise has set the stage for future collaborations and knowledge-sharing between India and Turkey.
Goals of the APCAM and TOBBUYUM Collaboration
In the fiscal year 2022-23, bilateral trade between India and Turkey reached 14 billion USD, with Indian investments in Turkey amounting to 126 million USD and Turkish investments in India totaling approximately 210 million USD. These figures reflect the robust economic ties and mutual trust between the two countries. The collaboration between APCAM and TOBBUYUM aims to facilitate cross-border trade by providing efficient and effective dispute resolution mechanisms, ensuring smoother and more secure transactions.
This partnership is expected to strengthen business relations, encourage further investments and joint ventures, and promote the understanding and use of arbitration and mediation. Additionally, this initiative will foster legal cooperation, enabling the exchange of legal expertise and best practices, and contribute to the development of a more robust international legal framework.
Statements from Leaders
Sr. Adv. Anil Xavier, Chairman of APCAM, remarked, “This partnership underscores the growing significance of ADR in facilitating international trade and business. By collaborating with TOBBUYUM, we are developing more effective dispute resolution mechanisms that will greatly benefit businesses in both India and Turkey.”
Ms. Iram Majid, Executive Director of APCAM, added, “We are thrilled to work with TOBBUYUM on this pivotal initiative. This partnership not only strengthens our bilateral ties but also enhances our collective expertise in arbitration and mediation, setting new standards for international dispute resolution.”
Dr. Onur Yuksel, General Manager of TOBBUYUM, expressed, “We are excited about this collaboration with APCAM. Our combined efforts will significantly advance ADR practices in both countries, fostering a more favorable business environment and facilitating smoother trade relations.”
This strategic collaboration represents a progressive approach to international dispute resolution, highlighting the increasing importance of ADR in global commerce. With the leadership of APCAM and TOBBUYUM, businesses in both countries can anticipate improved legal support, stronger trade relations, and a future of collaborative success.
