ICSID tribunal rejects Turkish investors’ claims against Uzbekistan

The International Centre for Settlement of Investment Disputes (ICSID) rejected all claims brought by three Turkish citizens and a Turkish company against Uzbekistan. The dispute over a food industry enterprise lasted more than five years.

On October 26, an arbitration tribunal of the International Centre for Settlement of Investment Disputes (ICSID) issued its decision in the case of Mehmet Zeki Obuz and other claimants against Uzbekistan, rejecting all claims against the state, Uzbekistan’s Ministry of Justice said.

The claim was filed by three Turkish citizens—Mehmet Zeki Obuz, Sevde Yılmaz and Huriye Obuz—as well as the Turkish company Obuzlar Gıda, which was undergoing liquidation. The dispute concerned a food industry enterprise. The claim was registered with ICSID on June 4, 2021.

Sign reading “World Bank Group” at the organization’s headquarters

The claimants invoked the agreement on the mutual promotion and protection of investments signed by Uzbekistan and Türkiye in 1992. Publicly available materials do not specify which measures taken by Uzbekistan the claimants challenged or how much they sought.

The tribunal was constituted in February 2022, and hearings on the merits of the claims were held in Washington from July 1 to 10, 2024. Uzbekistan was represented by its Ministry of Justice and the international law firm Curtis. The tribunal’s decision is final for the parties to the dispute.