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International rules on trade in goods are at the core of the
multilateral trading system and have been influential in all areas
of trade law. The essays in this collection represent the very best
academic writing from six decades of international trade law and
policy. They range from seminal analyses of the core
non-discrimination principles to explorations of areas that are
still evolving, such as rules on trade remedies, regional trade
agreements and developing countries. Alongside analytical pieces,
the editors have included a number of essays with a comparative,
institutional, political or economic perspective with an
introduction offering their own perspective on these themes. This
volume is an essential guide to the legal complexities,
controversies and policy implications of the field.
The interpretation and application of the rules of international
and regional trade is becoming an increasingly specialized field.
This study provides an in-depth analysis of the core legal concepts
characterizing the two most prominent and successful efforts in the
regulation of international trade to date. Adopting a comparative
method, it analyzes the basic legal instruments employed by the EU
and the WTO for the purpose of liberalizing trade in goods among
their respective Members. To this end, this study offers a fresh
look at the principles underlying the basic rules of international
trade law, including the prohibition of border measures, the
principle of non-discrimination on grounds of nationality, and the
principle of reasonableness.
In its ten years of existence, the World Trade Organization (WTO)
dispute settlement system has continued to differentiate itself in
many ways from more conventional international judicial proceedings
such as those before the International Court of Justice (ICJ) or
regional integration courts. The regular participation of third
parties, the emphasis at all levels of the ordinary meaning of the
text of WTO rules, and the raft of proposed amendments to the
Dispute Settlement Understanding (DSU) all characterize WTO
jurisprudence. In twenty-six incisive contributions, this book
covers both the legislative and (quasi) judicial activities
encompassed by the WTO dispute settlement system. Essays concerned
with rules emphasize proposed improvements and clarifications in
such areas as special and differential treatment of less-developed
countries, surveillance of implementation, compensation, and
suspension of concessions. Other contributions discuss such
jurisprudential and practical issues as discrimination,
trade-related environmental measures, subsides and countervailing
measures, and trade-related intellectual property rights. The
authors refer frequently to the panel, Appellate Body and
arbitration reports, a chronological list of which appears as an
annex. The contributors include WTO arbitrators, members of the WTO
Appellate Body, WTO panelists, and academics from a broad spectrum
of countries engaged as legal advisers by the WTO, by governments,
or by non-governmental organizations. More than a mere snapshot of
the current status of the WTO dispute settlement system, this
outstanding work represents a comprehensive analysis that brings a
fast-moving and crucially significant body ofinternational law into
sharp focus.
The proliferation of regional trade agreements, including both free
trade agreements and customs unions, over the past decade has
provoked many new legal issues in WTO law, public international
law, and an emerging law of regional trade agreements.
The various Parts of this book chart this development from a
number of perspectives. Part 1 introduces the economic and
political underpinnings of regional trade agreements, their
constitutional functions, and their role as a locus for integrating
trade and human rights. Part 2 examines the WTO rules governing
regional trade agreements, focusing on a number of areas in which
regional trade agreements prove problematic, such as trade
remedies, regulatory standards and rules of origin. Part 3
investigates areas in which regional trade agreements go beyond WTO
rules, in areas such as intellectual property, investment,
competition, services, sustainable development and mutual
recognition, while Part 4 is devoted to the dispute settlement
mechanisms of regional trade agreements, and includes illuminating
case studies. Part 5 explores the interrelationship between
regional trade agreements and the WTO system from the perspective
of public international law, involving questions with significance
beyond the trade community.
The proliferation of regional trade agreements, including both free
trade agreements and customs unions, over the past decade has
provoked many new legal issues in WTO law, public international
law, and an emerging law of regional trade agreements. The various
Parts of this book chart this development from a number of
perspectives. Part 1 introduces the economic and political
underpinnings of regional trade agreements, their constitutional
functions, and their role as a locus for integrating trade and
human rights. Part 2 examines the WTO rules governing regional
trade agreements, focusing on a number of areas in which regional
trade agreements prove problematic, such as trade remedies,
regulatory standards and rules of origin. Part 3 investigates areas
in which regional trade agreements go beyond WTO rules, in areas
such as intellectual property, investment, competition, services,
sustainable development and mutual recognition, while Part 4 is
devoted to the dispute settlement mechanisms of regional trade
agreements, and includes illuminating case studies. Part 5 explores
the interrelationship between regional trade agreements and the WTO
system from the perspective of public international law, involving
questions with significance beyond the trade community.
This book provides a conceptual and legal analysis of the core of
investment protection guarantees that emerge from international
treaties signed since 1959 for the promotion and protection of
foreign investment. It focuses on both the origin and evolution of
investment treaty standards. Beginning with origins, the work
considers the broader context at the time when the first modern
investment treaty was concluded. It goes on to examine the many
decisions of ad hoc arbitral tribunals that have since been called
upon to apply these treaties in order to resolve the several
hundred investor-State disputes. It also looks at some of the
recent investment treaties that have attempted to clarify and/or
reform the content and scope of investment protection guarantees.
Federico Ortino posits that the key investment protection
provisions in investment treaties, and thus much of the controversy
associated with such treaties, revolve around three concepts: legal
stability, investment's value, and reasonableness. He argues that,
from the very beginning, the protections afforded to foreign
investments by modern investment treaties have been exceptionally
broad, and as such restrictive of host States' ability to regulate.
And whilst a growing number of investment treaty tribunals, as well
as new investment treaties, have to some extent reined in such
broad protections, the evolution of key investment protection
standards has been marred by inconsistency and uncertainty.
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