Uzbekistan Wins $700 Mln Case in International Arbitration

Uzbekistan has won an international arbitration case against Turkish company Bursel Tekstil Sanayi Ve Diş Ticaret A.Ş, according to the Ministry of Justice. The company had filed a $700 mln claim against Uzbekistan.

The International Centre for Settlement of Investment Disputes (ICSID) ruled in favor of Tashkent in the fall of 2024.

Bursel Tekstil alleged that the Uzbek government had failed to meet various obligations, including the cancellation of VAT requirements, which, according to the investor, contributed to the bankruptcy of several enterprises.

The Ministry of Justice emphasized that the legal proceedings lasted nearly seven years.

Kursiv Uzbekistan also reports that the court had acquitted the former head of Uzbekistan’s Labor Migration Agency.