Union of Chambers and Commodity Exchanges of Turkey

Hisarcıklıoğlu said he was proud that his name was suggested by the businessmen of both countries and he accepted the duty in the name of the Turkish business world.

The International Chamber of Commerce (ICC) Israel and Palestine National Committees established Jerusalem Arbitration Center in order to solve the commercial disputes between the Israeli and Palestinian business worlds.  Rifat Hisarcıklıoğlu, President of TOBB, has been elected co-president of the center upon the joint offer of the businessmen from both countries.  

The Jerusalem Arbitration Center will carry out its activities in Eastern Jerusalem with the support and contribution of ICC.  

- Joint request of both countries

Describing arbitration as a mechanism that allows to solve contractual disputes rapidly and without referral to a court, Hisarcıklıoğlu, President of TOBB, stated that he assumed a great responsibility because he was elected co-president of Jerusalem Arbitration Center with the joint request of both Israeli and Palestinian members of ICC.   

Pointing out that he would soon fly to Jerusalem to initiate officially the studies of Jerusalem Arbitration Center, Hisarcıklıoğlu said, “The chain of welfare-trade-richness is always on our agenda.  Just as welfare and trade enables enrichment, enrichment feeds welfare and contributes to permanent peace.  For this reason also, we, as TOBB, have developed, applied and are presently applying a series of national and international projects to remove the obstacles before trade and to simplify trade.“ 

- Will play a key role

Emphasizing that arbitration mechanism was a very useful entity in the solution of commercial disputes without having to deal with the time-consuming judicial process, Hisarcıklıoğlu gave the following information:   “Israel is the most important trade partner of Palestine. While Palestine exports 86% of its production to Israel, Palestine imports 73% of its needs from Israel.  Further increase of mutual trade plays a key role in the normalization of relations, acceleration of the solution process, and attainment of the economic power which Palestine needs in the process of becoming a state.   As with any commercial relationship, disputes arise in the commercial relations between Palestinian and Israeli businessmen.  For the solution of disputes via arbitration, Israeli and Palestinian businessmen decided to develop a joint arbitration system and founded Jerusalem Arbitration Center.   They offered me the co-presidency of the Arbitration Center.  To tell the truth, it is a honorable duty for the Turkish business world.  After carrying out the necessary consultations, I accepted this very important duty.  We are spending great efforts in the framework of Ankara Forum since the year 2005 to ensure that the Palestinian people are enriched and the commercial relationship between Israel and Palestine is improved.   With the Co-presidency of the Arbitration Center, we will move our efforts in this area a step further.  Of course, we are continuing our studies to establish an industrial zone in Jenin.”

-Will operate in Eastern Jerusalem

The International Chamber of Commerce (ICC) Arbitration Body, to which Rifat Hisarcıklıoğlu, President of TOBB, is a member, is one of the widely used and most respected arbitration mechanisms in commercial life today.   The Jerusalem Arbitration Center founded with the support and guidance of ICC will work according to the rules of arbitration of ICC, and carry out its activities in Eastern Jerusalem .   It will have its own secretariat and list of arbitrators.