Written question asked by Marquess of Lothian (Conservative) on Wednesday, 30 January 2002, in the House of Commons. It was due for an answer on Thursday, 7 February 2002. It was answered by Jack Straw (Labour) on Thursday, 7 February 2002 on behalf of the Foreign and Commonwealth Office.

Foreign and Commonwealth Office

Question: To ask the Secretary of State for Foreign and Commonwealth Affairs, what safeguards British Trade International has in place to protect the interests of British investors in Turkey.

Answer: Mr. Ancram: To ask the Secretary of State for Foreign and Commonwealth Affairs what safeguards British Trade International has in place to protect the interests of British investors in Turkey. [32989] Mr. Straw: The UK has an agreement for the promotion and protection of investments with the Republic of Turkey, which entered into force on 22 October 1996. That agreement provides British investors with certain rights in respect of their investments in Turkey, including the right to treatment no less favourable than that accorded by the Turkish Government to Turkish investments or the investment of the nationals in Turkey of any third state. In the event of a dispute arising between the Turkish Government and a British investor in respect of a British investment in Turkey, the British investor has the right to submit the dispute to international arbitration under the jurisdiction of the International Centre for Settlement of Investment Disputes.

Secondary information

Type: Written question
Reference: 32989; 379 c1078-9W;379 c1072-3W
Session: 2001-02
Subjects: Protection Overseas investment Overseas companies Overseas trade Turkey British Trade International
Link: View this Written question on www.publications.parliament.uk