Türkiye ratifies investment pact with Hong Kong, UN oceans biodiversity treaty

Türkiye has given formal approval to two significant international agreements: a bilateral investment protection pact with Hong Kong and a major United Nations treaty on marine biodiversity. The laws ratifying both agreements were published in the Official Gazette on Saturday, marking their immediate entry into force for the country.

Details of the Hong Kong Investment Agreement

The first agreement is the "Agreement between the Government of the Republic of Türkiye and the Government of the Hong Kong Special Administrative Region of the People’s Republic of China on the Reciprocal Promotion and Protection of Investments." It was initially signed in Ankara on June 1, 2023, and later in Hong Kong on October 31, 2023. The pact establishes a legal framework to encourage and safeguard investments flowing between Türkiye and Hong Kong, providing greater predictability and security for businesses and investors from both sides.

Adoption of the UN High Seas Biodiversity Treaty

The second agreement is the landmark "Agreement under the United Nations Convention on the Law of the Sea on the Conservation and Sustainable Use of Marine Biological Diversity of Areas Beyond National Jurisdiction," commonly referred to as the High Seas Treaty. Signed in New York on September 27, 2024, this global accord aims to protect marine life in international waters, which cover nearly half the planet. Its objectives include establishing marine protected areas, conducting environmental impact assessments for deep-sea activities, and ensuring the fair sharing of benefits from marine genetic resources.

Strategic Implications and National Interests

The ratification of the Hong Kong agreement aligns with Türkiye's strategy to diversify and strengthen its economic partnerships, particularly with key Asian financial and trade hubs. Concurrently, endorsing the UN High Seas Treaty underscores Türkiye's commitment to multilateral environmental governance and sustainable development. As a nation with significant maritime interests and a growing "Blue Economy" agenda, Türkiye's participation is crucial for global efforts to manage ocean resources responsibly. These dual actions reflect a balanced foreign policy approach that prioritizes both tangible economic cooperation and proactive engagement in global environmental stewardship.