Regional development in the energy, construction and maritime sectors has triggered a surge in foreign investment, increasing the number of arbitrations involving parties from North Africa, the Middle East and Turkey.
Many countries in the Near East region have taken steps to encourage the use of arbitration locally. This article examines different approaches adopted in three countries that have been struck by varying degrees of political instability – Turkey, Egypt and Libya – to see whether, and to what extent, the countries are attractive for international parties to arbitrate there instead of resolving their disputes in an external, neutral forum.
Turkey has already modernised its arbitration laws. Egypt, which has formally adopted modern arbitration laws, has simultaneously and contrastingly issued a decree creating uncertainties regarding the enforcement of arbitral awards. Libya on the other hand, has made no efforts to modernise its arbitration laws at all.
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Originally published in the March-April 2015 edition of Commerical Dispute Resolution magazine.
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