International Trade Law PDF

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International Trade Law
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11. Background.............................................................................................................................12. Relationship between trade and environment.........................................................................43. Mechanism of Environmental Protection under International Trade Law..............................7a. World Trade Organisation (WTO) approach..........................................................................8a. i. Trends in WTO through Case Law Study.........................................................................10b. North American Free Trade Agreement (NAFTA) Approach..............................................10c. European Union Approach....................................................................................................11d. Multilateral Environmental Agreements (MEA)..................................................................124. Impact of trade liberalisation................................................................................................13CONCLUSION..............................................................................................................................15
INTRODUCTIONThe ambit of International trade law is huge and inflating gradually. These laws are veryhelpful in regulating trade and commerce across the world. Due to the expansion of business andtrade it has direct impact on environment. As the demand of goods are gradually increasing,resources are being extracted on regular basis. Which has resulted in adverse effect on theenvironment. In order to meet the demand of people resources are extricated from the earthwhich has hampered the sustainable development and environment. So to balance its effect thereare certain laws which manages the adverse impact of trade on environment. It becomesnecessary to extract resources to fulfil the needs of human but by keeping principle ofsustainable development. International trade was always a part of globalization but it wasperformed by certain laws .This essay is consist of various legal issues of world trade law and environment law. Alsoit explains the relation between trade and environment. WTO has initiated some laws to protectthe mechanism of environment. It includes such measures taken by WTO to administer theprotection of environment. Moreover, it is also comprise of efforts made by European Union andNAFTA to save environment. The impact of trade liberalization on the environment has alsobeen discussed in this essay. It is an overview of Impact of international trade on theenvironment and how it can be sustainably conducted in order to restrain the harm onenvironment. This report is in context of various nations indulged in various agreements topromote free trade with preservation of environment, human health and welfare. Functioning ofWorld Trade Organisation (WTO) and European Union (EU) regarding free trade policies andprotection of environment has also been discussed extensively. Conclusively this report discussthe impact of liberalisation in trade on natural resources and surroundings, also various measureswhich has been taken by governing bodies to prevent any harm done to environment.MAIN BODY1. BackgroundInternational laws came into existence in the late fifteenth century. It was constructedafter the result of 'Peace of Westphalia' in 1648. International trade has been part of nations fromhistorical period. Trade was practised between various countries. The history of trade is dividedinto five parts Ancient, Middle Ages, Early Modern, Later Modern and Post-World War II. The1
study of ancient trade is vast and indefinite. According to the records from Historical Departmenttrade has been practised from 19thcentury BCE (Before Common Era) and even before that. TheEgyptians , Chinese, Romans, Indians etc. were involve in the ancient trade of goods. The middleages is some what similar to the ancient one but the only difference was, range of tradingincreased immensely and laws of trade were also changed by different dynasties. Silk route wasthe major path through which trade was executed. In the early modern stage Spice Route changesfrom the Persian Gulf to Red Sea and certain other events happened to change the course ofworld trade and commerce. Later Modern era gave rises to many treaties and policies of freetrade between the nations. In this era free trade was motivated by the different countries. In Post-World War II gave rise to certain communities. Over 23 countries agreed to the GeneralAgreement on Tariffs and Trade in order to rationalize trade between several nations. TheEuropean Free Trade Association was established in 1960 it has been developed to create a tradebloc on the outer seven European countries who has refused to join European EconomicCommunity. In this era North American Free Trade Agreement came into existenceInternational trade is comprise of export and import. Export trade includes sale of goodsto different states whereas Import trade is includes buying goods from different countries. Thesemeans are conclusively known as foreign trade . It is of two types bilateral and multi lateraltrade. When two countries gets into an agreement of exchanging goods and services they areworking under bilateral trade whereas in multi trade where more than one countries are involved.Apart from import and export, countries purchases product from one place and sell it to other,this type of trading is known as Entrepôt Trade.International Trade Laws regulates the trading procedure between countries. The mainpurpose is to form those regulations which helps in smooth trade and commerce. These laws areimplemented by World Trade Organisation . WTO is responsible for regulating internationtrade. It was initiated on 1stof January 1995 under Marrakesh Agreement. This agreement wasmade in Marrakesh, Morocco and 124 other nations in April 1994. It was the result of GeneralAgreement on Tariffs and Trade in addition with several agreements such as trade in services,technical barriers, sanitary and phyto-sanitary measures, etc.1Moreover, dispute resolutionmethods were also included in this agreement.1Marceau, G. Z., & Trachtman, J. P. (2014). A map of the world trade organization law of domesticregulation of goods: the technical barriers to trade agreement, the sanitary and phytosanitary measuresagreement, and the general agreement on tariffs and trade.Journal of World Trade,48(2), 351-432.2
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