SOME BASIC INTERNATIONAL LAW CONCEPTS The world trading system is based on international law, i.e. law regulating relationships among States State’s equality.

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Presentation transcript:

SOME BASIC INTERNATIONAL LAW CONCEPTS The world trading system is based on international law, i.e. law regulating relationships among States State’s equality and sovereignty Customary law Treaty law Acts of international organisations

SOME BASIC INTERNATIONAL LAW CONCEPTS Custom: - non written - addressed to all States - made of practice and opinio juris - ex. prevention of environmental harm

SOME BASIC INTERNATIONAL LAW CONCEPTS Treaty law - binding only upon contracting parties - difference between signature and ratification - it prevails upon customary law - GATT and WTO are examples of treaty law

SOME BASIC INTERNATIONAL LAW CONCEPTS Acts of international organisations - IOs are created by a treaty among the parties wishing to join the IO - the IO can then emanate acts, binding upon members and subordinate to the establishing treaty - ex. the awards rendered by WTO judicial organs are acts of an IO

INTERNATIONAL TRADE TOOLS Tariff obstacles (duties) Non tariff obstacles (quota) Tariff quota Tariff can be ad valorem or on a specific basis - revenue for the State - protection of national industry

INTERNATIONAL TRADE TOOLS Tariff binding Tariff peak (industrial products) Tariff escalation Nuisance tariff

INTERNATIONAL TRADE TOOLS Trade defence measures: - dumping - safeguard measure - anti-subsidy measure Basic obligations: - most favourite nation clause - national treatment

HISTORICAL BACKGROUND Classical liberalism -between industrial revolution ( ) and WW1 - States do not intervene in economic relationships - “friendship, navigation and trade” treaties based on MFN and NT - trade regulation only based on duty collection

HISTORICAL BACKGROUND Protectionism (between WW1 and WW2) - State intervention in the economy to reconstruct and to face the crisis - trade wars and economic autarchy - duties, anticompetitive practices and beggar- thy- neighbour policies - bilateral treaties (quota)

HISTORICAL BACKGROUND managed free trade (neoliberalism) - after WW2 - economic freedom - set of rules guaranteed by States and IOs - delegation of power to IOs - erosion of domestic jurisdiction

THE BRETTON WOOD CONFERENCE creation of the post-war economic order complementing UN policy on peace and security IMF = int’l monetary stability and BOP problems IBRD (the WB group) = development projects ITO = trade - UN Conference on trade and labor ( )

THE WORLD BANK GROUP Int'l financing Corporation: loans to private firms Int'l Development Agency: loands to LDCs (long term, low rates) Multilateral Investment Guarantee Agency : investment insurance Int'l Centre for the settlement of investment disputes : arbitration procedure

THE ITO ITO (not born) = trade regulation but also labour, competition etc - UN specialised agency failure: - protectionism vs push for liberalisation - US vs UK - cold war - 1 State =1 vote

THE GATT signed in Geneva in 1947 while the UN conference is still going on tariff concessions provisional no institutional structure weaker than the Avana Charter

THE GATT lack of formal strength based on “rounds” tariff reduction vs technical obstacles “genuine” technical standards vs protectionist ones examples: procurement policies, subsidies, custom valuation methods

THE TOKYO ROUND AND THE SEVENTIES TR focused on technical obstacles GATT “à la carte” confusion and free riding The 70s: general recession and oil price shock rise of Japan and NICs protectionism and managed trade (MFA)

DCs, LDCs, … difficult to distinguish different categories of countries according to dev’t level DCs & LDCs transition economies NICs and big DCs role of UNCTAD in GATT/WTO trade as a tool for dev’t

The Uruguay Round and the Marrakesh Agreement the transition from GATT to WTO new subjects (services) the single undertaking principle : end of free riding and unity of the system plurilateral agreements

THE INSTITUTIONAL STRUCTURE Traditional structure of IOs: - assembly or plenary - restricted organ - secretariat WTO structure - Ministerial Conference - General Council - Secretariat

URUGUAY ROUND AGREEMENTS

THE INSTITUTIONAL STRUCTURE Ministerial Conference - all members - Ministerial rank of representatives - general competence - political guidelines about the development of the organisation - meets every 2 years

THE INSTITUTIONAL STRUCTURE General Council - all members - diplomatic rank - implementation of the MC decisions - interpretation of WTO legal texts - meets whenever necessary - DSB and TPR boby

THE INSTITUTIONAL STRUCTURE Secretariat : - carries out the TPRM - provides technical assistance - cannot accept instructions by States - chosen by the DG

THE INSTITUTIONAL STRUCTURE The Director General - chosen by the General Council - acts in its individual capacity - responsible of the budget - he represents the organisation in front of other States - diplomatic role in negotiations

THE INSTITUTIONAL STRUCTURE every agreement is managed by a Council - assessment of compliance - discussing future developments - GATT 1947 = GATT Council - SPS = SPS Council - but the GATT Council can intervene in other councils’ issues

THE INSTITUTIONAL STRUCTURE lack of tranparency and civil society involvement participation of DCs and LDCs - green room negotiations - consensus technique non-trade issues actually the real problem now is the lack of progressi in negotiations!

THE DOHA ROUND (2001 -???) big momentum in 2001 vs economic crisis industrial market access and agriculture big issues blocking other issues proliferation of bilateral agreements and regional trading blocks DSS prevailing over negotiations protectionis moves (export bans, currency manipulation, import obstacles)