Law of International Trade

This article provides an overview of the laws and regulations governing international trade and the role of the World Trade Organization (WTO) in resolving disputes. It discusses the framework provided by international trade laws for smooth trade activities and the benefits of a global customer base. The article also explores the functions and principles of the WTO, including non-discrimination, reciprocity, and dispute settlement. It highlights the importance of transparency and safety values in trade practices and the decision-making process of the WTO. The article concludes by emphasizing the significance of the WTO's dispute settlement system in promoting peace and order in international trade.

Law of International Trade

INTRODUCTION...........................................................................................................................3
Main Body.......................................................................................................................................3
WTO organization.......................................................................................................................3
CONCLUSION................................................................................................................................6
REFRENCES...................................................................................................................................8

INTRODUCTION
International trade laws are those laws that have been formed in order to regulate trade
activities taking place at international level. These laws provides framework that makes
international trade conducted in smooth manner. Such laws make various kinds of organization
formed within it that has helped in providing directions in relation to international trade
practices. Further the laws have been helping in making sure those goods and services between
countries are exchanged in proper manner. Also it helps in generating customers base at global
level then such laws helps in making customs process of making goods available in proper
manner with more efficiency. In the file things covered is based upon dispute settlement body
and World Trade Organization.
Main Body
WTO organization
The World Trade Organization is an intergovernmental organization which makes
regulation of facilities done in relation over international trade taking place within an
organization. Further the organization has been established in the year 1st January 1995 under the
Marrakesh agreement which replaced General Agreement on Tariffs and Trade formed in 1948.
The organization has become one of the fastest international economic organizations and has 164
members that have been representing 96% of global trade all over world. WTO mainly deals
upon trading of goods and services with intellectual property. In these participating countries has
been providing framework in order to make negotiation possible in relation to trade agreements.
It aims upon reducing and eliminating of barriers which makes restrictions reduced through
signing agreements between its members (Costa, 2020). WTO administers independency in
solving dispute with the help of dispute resolution. Under it organization prohibits irrelevant
trade practices with the help of non discrimination between trading partners, but provides
exceptions for environmental protection, national security, and other important goals. There are
certain principles that have been formed by WTO over dealing upon activities related to trade
practices. These principles are Non-discrimination: It consists of two major components that is
Most favored Nation and national treatment policy. These are been made two most important
rules related to goods, services, and intellectual property. Scope of these rules is wider in nature
in relation to nature of trade practices existing within a country. The rule of MFN for giving
equal status in relation to trade for a country. WTO members are required to grant most
favorable conditions that makes trade possible in relation to a specific product. Specific favor is
been given to a country by the members of WTO. National treatment means importing goods
required for making available to an organization in its domestic market. It has helped in making

tackling of non tariff barriers for making trade to be eased while maintaining relationship
between one country and another. Reciprocity: this makes reflection possible upon the desire in
relation to make scope regarding free riding to be increased which has made access within
foreign market possible. This principle is based negotiation policies of nation which is required
over gaining greater value in relation over liberalization, reciprocal concessions for making
materialization possible (Chen and et. al., 2018). Binding and enforceable commitments in
these tariff commitments formed within WTO members through multi trade negotiation over
accessing concessions. In this country is been bounded through forming negotiation within trade
taking place within them. These schedules establish "ceiling bindings": a country can change its
bindings, but only after negotiating with its trading partners, which could mean compensating
them for loss of trade. If satisfaction is not obtained, the complaining country may invoke the
WTO dispute settlement procedures. Transparency in these WTO members is required over
publishing various kinds of trade regulations over maintaining institution which helps in taking
administrative decisions which affects trade in order to request over information by various
members of an organization. Further it is been made for making sure that facilitating countries
and members in relation to attain proper review over trade policies. This makes mechanism
developed for making stability to be created within working process of WTO through imports
and measuring difficulties in more effective manner. Safety values: In these specific
circumstances is related over restricting trade practices which makes framework in relation to
trade practices followed in proper manner. In this environment policies is included that protects
environment and health policies for protecting health status within a country. Highest authority
within WTO is Ministerial Conference and there meeting is required to be held every two years.
In WTO daily work is been handled by three bodies those makes constitution possible in more
effective manner. These three bodies are General Council (Charwat and Boyd, 2019), Dispute
Settlement Body and Trade Policy Review Body. Council for Trade in Goods it has eleven
countries under jurisdiction of Goods Council which makes specification task done within
committees. This is the body which makes monitoring of work related to textile possible and has
chairman with ten members. Also various groups are there which makes textile trade easy.
Council for Trade-Related Aspects of Intellectual Property Rights in this information over
intellectual property within WTO makes official record with activities in relation to TRIPS
Council within which work over international organization is done. Council for Trade in
Services the Council for Trade in Services operates under the guidance of the General Council
and is responsible for overseeing the functioning of the General Agreement on Trade in Services
(GATS). It is open to all WTO members and can create subsidiary bodies as required. Trade
Negotiations Committee in this committee has been formed for dealing upon current trade
related aspects which makes trade policies advancement possible. In this WTO director general
is committed over achieving task decided within Doha Development Round. Service Council
contains three subsidiary bodies which is based upon domestic regulations, GATs rules and
specifying commitments. In this various committees working group and working parties requires
to follow trade, environment and development practices. In this regional Trade agreement makes
balancing. Under it various kinds of things is been covered that is based upon balance of

payment restriction and financing is been covered. These have been working over parties upon
following Accession. Under it Trade, debt and finance; and Trade and technology transfer also
takes place. WTO develops its decision making process with the help of rule based members
driven by an organization. In this all decision makes members of government through making
rules which makes outcome possible over negation within the member is done. Then agreement
is been created which is gone through the process of votes and then agreement is been formed
over decision making. Under it decisions regarding various models used within trade is been
discussed. Under which model is been provided through initializing trading rounds which makes
better decision formed for international market possible. Dispute settlement system of WTO
has been resulting in making evolution within the rules, process and practice is been developed
for controlling various issues rising within various countries members of WTO. In this kind of
system Understanding about rules and procedures make governing in relation to Settlement of
Dispute possible. It acts as that pillar of WTO which makes peace and order to be maintained
within various processes of trades in more effective manner. Dispute settlement has been formed
by WTO for making disputes to be solved by making unique contribution towards global
economy. WTO member has agreed that if there members violating trade rules then they will use
the multilateral system of settling disputes instead of taking action unilaterally (Charwat and
Boyd, 2019). Also WTO makes dispute settlement process develop operation which involves
specific cases and is been solved by Dispute Settlement Body. In this appellate body has been
formed headed by Director-General and the WTO Secretariat they acts as arbitrators or advisory
experts. In priority over settling dispute makes mutual solutions to be created according to
provisions decided by WTO. These are required to be applied in effective manner and timely
way over cases that has been adjudicated by panel and not more than 16 months time should be
taken for solving dispute. If complain launched requires urgent attention then less time should be
taken by WTO members in solving the dispute. Also WTO has timely make Journal Policies
which has helped in making violation which has been affecting sates within more effective
manner. Collective action over problems makes pursuing of litigation which has been done by
WTO members. WTO dispute settlement system has been introduced for making increasing of
trade possible through peace and order. This system cannot be used in solving matters that is
related with any kind of political disagreements. Further it has made establishment of panel
which listen over problems that has been taking place within WTO. Various countries quickly
resolve these disputes within the help of mutual understanding. So WTO dispute system is not
appropriate for political dispute solving mechanism. Also the General Council which makes
Dispute Settlement Body for dealing dispute within WTO members solved. These disputes arises
in respect over agreement which contains Final act that has taken place within Uruguay Rounds
that makes understanding development of rules and procedure which makes governing and
Settlement of Dispute in establishing panels of various kinds that deals upon dispute of various
nature. These disputes which arises upon is mainly based upon trade that is been solved over
Final Act of Uruguay. Understanding Rules with procedures which makes governing matters in
relation of solving disputes. This makes arbitration over adopting panel over Appellate Body
which reports over maintaining surveillance in making implementation for recommending and

ruling of such reports for making compliance in ruling of event possible. In this kind of system
report is been implemented which make formation of rule possible in order to solve the dispute
taking place within members of WTO.
It is clear that World Trade Organization is that kind of organization which has helped in
making international trade possible through secured means. In these kinds of organization
various process is been run and authorities is been given power in order to regulated trade related
issues solved within member of WTO. Also WTO has been working upon mechanism which
helps in regulating dispute within the organization. This system has made various kinds of trade
related issues to be solved with more effectiveness. Then members of WTO have been
conducting meetings for solving of dispute through Dispute Resolution System. There are
various cases within which WTO has shown that trade related aspects of international trade can
be handled well by WTO. WTO has made certain norms which makes decision making process
of WTO more affective resulting in making trade activities conducted in smooth manner. ICJ has
played important role in giving justice within various case that has proven to be landmark cases
within the history. This case has helped in forming strong and concrete framework which leads
over making WTO more enhanced in terms of understanding and then solving dispute with more
effectiveness. ICJ has made various rules and regulations formed for WTO (Buser, 2021).
CONCLUSION
From the above discussion it can be concluded that international trade laws are those laws
formed in order to deal over activities related to international trade. These laws helped in
forming rules and bodies which deal upon trade and issues existing within it. Further the essay
covers about World Trade Organization that deals upon matters related to international trade.
Also it has dispute solving mechanism which makes disputes handling done with more
effectiveness. Under it various kinds of aspects related to dispute id been covered. Then in the
end International Court Of Justice and its importance is been covered. International court of
justice has helped in making various important decisions which has lead upon making dispute
settlement done in more effective and efficient manner. So it has been observed that WTO has
made dispute settlement possible.

REFRENCES
Books and Journals
Buser, A., 2021. Emerging Powers and International Trade Law. In Emerging Powers, Global
Justice and International Economic Law (pp. 271-416). Springer, Cham.
Charwat, N. and Boyd, J., 2019. The transmission of international trade norms, ideas and
expertise into national statutory institutions: the case of GATT and the Australian Tariff
Board. Griffith Law Review. 28(3). pp.281-302.
Charwat, N. and Boyd, J., 2019. The transmission of international trade norms, ideas and
expertise into national statutory institutions: the case of GATT and the Australian Tariff
Board. Griffith Law Review. 28(3). pp.281-302.
Chen, B and et. al., 2018. Global energy flows embodied in international trade: a combination of
environmentally extended input–output analysis and complex network analysis. Applied
energy. 210. pp.98-107.
Costa, J.A.F., 2020. Data Protection in International Trade Law. In Data Protection in the
Internet (pp. 479-517). Springer, Cham.
Hataley, T., 2020. Trade-based money laundering: organized crime, learning and international
trade. Journal of Money Laundering Control.
Islam, R and et. al., 2020. Impact of global energy politics on international trade. International
Journal of Energy Economics and Policy. 10(6). p.109.
Karimi Pour, K., 2019. Developments in the International Chamber of Commerce and
Developments in the International Trade Law in Iran. Journal of Private Law Justice.
5(10). pp.113-133.
McGrady, B., 2018. Health and international trade law. In Research handbook on global health
law. Edward Elgar Publishing.
Menashe, M., 2020. The Race to the Bottom Revisited: International Labour Law, Global Trade
and Evolutionary Game Theory. Oxford Journal of Legal Studies, 40(1), pp.53-81.
Moerenhout, T.S., 2020. Energy Pricing Policies and the International Trade Regime. Journal of
International Economic Law. 23(1). pp.119-141.
Taubman, A.S., 2019. Discontent Industries? Creative Works and International Trade Law:
Making Sense of'Analogue'IP Rules in a Digital Age. Creative Works and International
Trade Law: Making Sense of'Analogue'IP Rules in a Digital Age (November 9, 2019).