This paper discusses the evolving relationship between arbitration and international economic law (IEL) particulary the role that arbitration performs as an effective method to rule international economic disputes. the primary aim of this work is to address , in a nutshell questions related to when, why and how, arbitration and international economic law have become intrinsically interfaced, the scope and current implementation of arbitral proceeding in some areas of IEL as well as to indicate a number of challenges that the wave of international arbitrations are prompting, challenges that somehow could undermine its effectiveness and suitability as a consensual third party intervention vesting with the authority to adjudicate international economic disputes