INTERNATIONAL TRADE
INTRODUCTION
International Trade
International Trade as Political Instrument
(1) Attainment of Foreign Policy Objectives
(2) To increase country’s capabilities
(3) To create sphere of influence
TRADE POLICY INVESTMENTS OVER TIME
INSTITUTIONS AND TRENDS IN POLICY INSTRUMENTS
Institutional influences under the GATT/WTO system
Important trends in use of different policy instruments
THEORETICAL STUDIES
Theories of import restrictions : Tariffs and everything else
Large countries, import protection, and trade agreements
Small countries, import protection, and trade agreements
EMPIRICAL STUDIES
Evidence on import tariff formation before and after the signing of trade agreements
The decline in applied tariffs and the rise in other instruments of nontariff protection Preferential tariff reductions and multilateral tariff reductions
Additional influences on import protection : Retaliation capacity and WTO
dispute jurisprudence
NEW APPROACHES
Foreign Aid
Chapter 2
New International Economic Order and International Economic Laws
I. Meaning and Substance of New International Economic Order
(a) Development of International Economic Cooperation System
(b) Limitation to Functions of International Economic Organizations :
II. New International Economic Order and International Economic Laws
(1) New International Economic Order That Challenges to Modem International Law
(2) Impact the NIEO against the International Law
New International Economic Order and International Economic Laws
(1) Impact of the NIEO on Trade Practices
(i) Impact of the NIEO on International Monopolies and Oligo-polies.
(ii) Influence of the NIEO on International Cartels
(2) Supplementary Issues on Market Mechanism—Revision of the Principles on Free Trade of Primary Products
1. Western System
2. The North-South system
3. East-West system
Underdeveloped or Developing Countries
Characteristics of third World Countries
Balance of Payments
Basic analysis of Balance of Payment
IMF’s definition of Balance of Payment
THE DAWN OF A NEW, NEW INTERNATIONAL ECONOMIC ORDER
THE INTERNATIONAL ECONOMIC ORDER AND GLOBAL INEQUALITY
A. The International Economic Hierarchy
B. Domestic Inequality
C. Inequality Between Nations
A NEW INTERNATIONAL ECONOMIC ORDER
THE ECONOMIC COLLAPSE OF THE SOUTH & THE RISE OF THE WASHINGTON CONSENSUS
GLOBAL ECONOMIC COLLAPSE AND THE RISE OF A NEW SOUTHERN TIER
A. A Financial Crisis in the Making
B. International Dimensions of the U.S. Financial Crisis ..
TOWARDS A NEW, NEW INTERNATIONAL ECONOMIC ORDER
UNIT II
GENERAL AGREEMENT ON TARIFFS
AND TRADE (GATT)
EVOLUTION OF GATT LAW
The General Agreement on Tariffs and Trade (GATT)
The Birth of GATT
The GATT Negotiation Rounds
First Five Rounds (1947-1961)
Kennedy Round
Tokyo Round
The Uruguay Round
Main objectives of GATT 1947
The WTO and GATT : A Principled History
A Brief History of GATT Negotiations
The Negotiating Rounds and Negotiating Approaches
Important Commercial Sector Exemptions to the GATT
The Fundamental Principles of the GATT and the WTO
Reciprocity
Most-Favored-Nation Treatment
National Treatment
The Theories and Empirical Evidence that the GATT and the WTO Are Relevant FUNDAMENTALS OF GATT
(1) Most favoured Nation Status
(2) National Treatment
(3) Protection through tariffs
(4) Dispute Settlement
Chapter II
AGREEMENTS OF THE GATT
Bilateral Trade Agreements
Multilateral Trade Agreements
Status of GATT 1994
Main Features
Structure
GATT 1994 : The Most-Favored Nation Clause
GATT 1994 : Part II
Non-Tariff Measures
National Treatment
Unfair Trade Practices
Quantitative Restrictions
Emergency Safeguard Action
Application of Border Measures
Freedom of Transit
Fees and Formalities
Exceptions
GATT 1994 : Part III
Territorial Application
Customs Territory
Tariff Negotiations
GATT 1994 : Part IV
SAILENT FEATURES OF THE GATT, 1994
DISPUTE RESOLUTION IN THE GATT
RESOLVING TRADE DISPUTES : THE MECHANISMS OF GATT/WTO
DISPUTE RESOLUTION
1948 Havana Charter
1966 Decision
1979 Understanding
1. Customary GATT Dispute Practices
2. New GATT Procedures for Dispute Settlement
1982 Ministerial Declaration
1984 Decision
1989 Decision
Birth of the Dispute Settlement Understanding
1990 Draft
THE DISPUTE SETTLEMENT UNDERSTANDING
National Proposals for Change
1. European Communities
2. Canada
3. Mexico
4. Chile and the United States
5. Proposals effecting developing and least-developed nations
Resolution of Disputes between states
Interstate Arbitration
THE ORIGINAL CONCEPTION OF DISPUTE SETTLEMENT UNDER GATT Customary GATT Dispute Practices
New GATT Procedures for Dispute Settlement
Ministerial Declaration
Birth of the Dispute Settlement Understanding
The Dispute Settlement Undertaking ...
WTO and Non-tariff restrictions
Tariffs and Tariff Rate Quotas
Non-Tariff Trade Barriers
Domestic Content Requirements
Import Licences
Import State Trading Enterprises
Ongoing Multilateral Negotiations
GATS PROVISIONS
Current levels of commitments
Negotiating Mandates
Key stages in the negotiations
Chapter III
ESTABLISHMENT OF WORLD TRADE ORGANISATION
Objectives and Organization of the WTO
What is the WTO?
What is the origin of the WTO?
What was/is the GATT?
The WTO Secretariat and Budget
What are the agreements that the WTO administers?
The General Agreement on Tariffs and Trade
The General Agreement on Trade in Services
Trade Related Intellectual Property Rights
Trade Related Investment Measures (TRIMS)
The Agreement on the Application of Sanitary and Phytosanitary Standards (SPS)
The Financial Services Agreement (FSA)
The Agreement on Agriculture (AoA)
What are the principles of the WTO trading system?
The Agreement on Technical Barriers to Trade
The Agreement on Government Procurement
How do countries join the WTO
How do the principles work in practice?
Enforcement of trade agreements
The WTO Dispute Settlement Understanding (DSU)
Legal approach : rule orientation, or conciliation and negotiation?
The procedure
Developing countries and the DSU
Participation in the dispute settlement mechanism
Suggestions for reforms
Given these qualifications, who does the WTO work for?
How do WTO rules affect our lives?
Economic insecurity
Political insecurity
Social insecurity
Ecological insecurity
Peace insecurity
Food insecurity
Human insecurity
Agreement on Trade Related aspects of Intellectual Property Rights (TRIPS)
International protection
The Agreement on Trade Related Aspects of Intellectual Property Rights
Implications of TRIPS
Implications of the TRIPS Agreement for Developing Countries
Innovation
Technology transfer
Foreign direct investment
Trade
Implications in selected areas
The GATS and Access to Services (GATS)
What is GATS?
Why services?
What types of services are covered by GATS?
What are the modes of supplying services?
What are the general and specific GATS obligations and disciplines for WTO members?
What do GATS market-opening commitments normally imply?
IMF. Does the GATS contain a social dimension? No!
Is GATS enforceable?
What is the connection between GATS and privatization?
How is GATS-WTO linked to the priorities and thrusts of international financial institutions?
NAMA
What is NAMA?
The Doha mandate
NAMA negotiations
Where do negotiations stand?
The WTO Agreement on Agriculture
What is the WTO Agreement on Agriculture?
The main elements of the AoA
Why is the AoA highly iniquitous?
AoA Undermines Food Security of Developing Countries
Rising Food Imports in Developing Countries
Why we should oppose the WTO?
Why we should oppose the WTO
Institutional Colossus of the WTO
INSTITUTIONS/ORGANISATIONS AFFILIATED WITH THE WTO
Office international des epizooties
Organization for Economic Co-Operation and Development (OECD)
United Nations Conference on Trade and Development World Trade Point Federation International Trade Centre
The World Intellectual Property Organization (WIPO)
World Bank Group
IPAnet
From Doha to Hong Kong : Issues for South Asia
Agriculture
Market Access
Domestic Support
Export Competition
Non-Agricultural Market Access
Services
Trade Facilitation
Development Dimension
Other Issues
Trade and Environment
Trade, Debt and Finance
Trade and Technology Transfer
Dispute Settlement
Are WTO Trade Negotiations : A Tool for Poverty Reduction?
Functions of WTO
Basic Principles
(a) Non-discrimination
(b) Reciprocity
Binding and Enforceable Commitments
(c) Transparency
(d) Safety Valves
Structure of WTO
(a) The Ministerial Conference
(b) The General Council
(c) The Trade Policy Review Body
(d) The Dispute Settlement Body
(e) The Councils on Trade in Goods and Trade in Services
(f) The Secretariat and Director General
(g) The committee on Trade and Development and Committee
The WTO Dispute Resolution Mechanism
Dispute Settlement in the World Trade Organization (WTO)
WTO Dispute Settlement Understanding
Steps in a WTO Dispute
Consultations (Article 4)
Establishing a Dispute Panel (Articles 6, 8)
Panel Proceedings (Articles 12, 15, Appendix 3)
Adoption of Panel Reports/Appellate Review (Articles 16, 17, 20)
Implementation of Panel and Appellate Body Reports (Article 21)
Compliance Panels (Article 21.5)
Compensation and Suspension of Concessions (Article 22)
Use of Multilateral Dispute Settlement Procedures
Compliance Issues "Sequencing"
Removal of Retaliatory Measures
WTO Dispute Settlement and U.S. Law Legal Effect of WTO
Decisions
Section 301 of the Trade Act
(I) Consultation
(II) Good Offices, Conciliation and Mediation
(III) Panel Phase
(IV) Appellate Body Review
(V) Remedies
(VI) Arbitration
The WTO’s Dispute Settlement System in Operation
European Hormone Case
The Gasoline Case
Chapter IV
AGREEMENTS OF GATT, 1994
Agreement on Agriculture
Sailent features of the Agreement
(I) Market Access Minimum Market Access
(II) Incorporation of Concessions and Commitments
(III) Export subsidies
(IV) Domestic Support
(V) Export Competition
Chapter V
INTELLECTUAL PROPERTY RIGHTS (TRIPS)
Intellectual Property before Uruguay Round
Major Conventions, TRIPS and other International Agreement
Paris and Berne Conventions
TRIPS AGREEMENT
BACKGROUND AND HISTORY
WHAT IS TRIPS AGREEMENT?
How to give adequate protection to IPR?
How to settle disputes on IP between members of the WTO?
STRUCTURE OF THE TRIPS AGREEMENT
GENERAL PROVISIONS AND BASIC PRINCIPLES STANDARDS CONCERNING THE AVAILABILITY,
SCOPE AND USE OF IPR
Copyright and Related Rights
Trademark
Geographical Indications
Patents
Industrial Designs
Lay-out Designs for Integrated Circuits
Protection of Undisclosed Information
ENFORCEMENT OF IPR
ACQUISITION AND MAINTENANCE OF IPR
DISPUTE SETTLEMENT AND PREVENTION
TRANSITIONAL ARRANGEMENTS
INSTITUTIONAL ARRANGEMENTS
TRIPS AGREEMENT AND INDIA
(1) COPYRIGHT
(a) Berne Convention
(b) The TRIPs Agreement
(c) The WIPO Copyright Treaty
(2) Trademarks
Paris Convention
Madrid Agreement and Protocol
TRIPs Agreement
(3) Geographical Indications
The Paris Convention
TRIPs Agreement
(4) Industrial Design
Paris Convention
TRIPs Agreement
(5) Patents
The Paris Convention
The Patent Cooperation Treaty
The TRIPs Agreement
(6) Layout Design and Integrated Circuits
Protection of Undisclosed information
The TRIPs Agreement in Perspective
(a) TRIPs and the Developing Countries
(b) Innovation and TRIPs Agreement
Chapter VI
GENERAL AGREEMENT ON TRADE SERVICES (GATS)
GATS—FACT AND FICTION
Why is the liberalization of services important?
Six benefits of services liberalization
The GATS and investment
Structure of the GATS
Misunderstandings and scare stories Market access and national treatment commitments
The GATS and public funding
The WTO is not after your water
The GATS does not require the privatization or deregulation of any service.
Liberalization under GATS means deregulation of services
The GATS and domestic regulation
Article VI
The WTO and Internet privacy
Once made, GATS commitments are irreversible
Right to regulate
GATS negotiations are secretive and anti-democratic
Proposals are posted on the WTO website
Is dispute settlement a threat to democracy?
WTO’s General Agreement on Trade in Services (GATS)
U.S. GATS Commitments
GATS Rules
Public services under GATS
(a) Most favoured Nation Treatment
(b) Transparency and Fair Procedures
(c) Market Access
(d) National Treatment Sector Wise Commitments
(a) Financial Services
(b) Telecommunications
(c) Air Transport Services GATS NEGOTIATIONS
Chapter VII
AGREEMENT ON SUBSIDIES AND
COUNTERVAILING MEASURES
Subsidies and countervailing measures
Rationale behind trade remedies—A policy perspective
IN BRIEF : TRADE REMEDIES
SUBSIDIES & COUNTERVAILING MEASURES (SCM)
THE SUBSIDIES AND COUNTERVAILING MEASURES (SCM)
AGREEMENT : TWO TRACKS
A-l. MULTILATERAL DISCIPLINES ON SUBSIDIES
A-2. COUNTERVAILING MEASURES
‘AD-CVD’
III-B DISCIPLINES ON SUBSIDIES
III-B 1. DEFINITION OF "SUBSIDY"
Definition of "Subsidy"
(a) FINANCIAL CONTRIBUTION
(b) BY A GOVERNMENT OR ANY PUBLIC BODY
(c) CONFERS A BENEFIT
(d) SPECIFICITY
III-B 2. Categories of Subsidies Covered by the Subsidies and Countervailing
Measures (SCM) Agreement
(a) Prohibited Subsidies
(b) Actionable Subsidies
Relationship between the SCM Agreement and the Agreement on Agriculture
III-C. Procedure for the Application of Countervailing Measures
III-C 1. Substantive Requirements : Conditions for the Application of
Countervailing Measures
III-C 2. Procedural Requirements
III-D. Special and Differential Treatment
III-D 1. Multilateral Disciplines on Subsidies
III-D 2. Countervailing Measures
Structure of the Agreement
Coverage of Agreement
Specificity
Categories of subsidies
Prohibited subsidy
Actionable subsidy
Agricultural Subsidy
Countervailing Measures
Substantive Rules
Procedural rules
Transition Rules and Special and Differential Treatment
Developing Countries
Members in transformation to market economy
Chapter VIII
AND ANTI DUMPING MEASURES
ANTI-DUMPING MEASURES
Legal Framework
(i) International Rules
(ii) Improvements in the Anti-Dumping Agreement
(a) Fair Price Comparison
(c) Other Points
(iii) The Agreement introduced a sunset clause
(iv) Other changes provided in the Agreement include :
(3) Recent Trends
(ii) Distortion of Normal Commercial Practices
(iii) Effects on Technology Transfers (Unnecessary Expansion of the Product Scope Subject to Anti-Dumping Duties)
(iv) Retarding Globalization of Production
(v) Conclusion
(4) Anti-Circumvention Issues
(5) Response to Dumping in Japan
PROBLEMS OF TRADE POLICIES AND MEASURES IN INDIVIDUAL COUNTRIES
(1) United States
(i) Recent Trends
(ii) Problems Involved in Applying Anti-Circumvention Measures
(iii) Problems Involved in Determining Dumping (v) Like Products
(viii) Actions by the United States Steel Industry
(ix) Problems with the US Antidumping Act of 1916
(2) European Union
(i) Recent Trends
(ii) Problems Involved in Applying Anti-Circumvention Measures
(iii) Problems Involved in Determining Dumping
(iv) Problems Involved in Determining Injury
(v) Like Products
(3) Australia
(4) Canada
(5) Others Countries
Determination of Dumping
Determination of Injury
Domestic Industry
Initiation and Subsequent Investigation
Evidence
Provisional Measures
Price Undertaking
Imposition and Collection of Anti-Dumping Duties
Retroactivity
Public Notice and Explanation of Determinations
Judicial Review
Anti-dumping Act on behalf of a third Country
Developing Country Members
Committee on Anti-Dumping Practices
Consultation and Dispute Settlement
Final Provisions
Chapter IX
BALANCE OF PAYMENT PROVISIONS UNDER GATT, 1994
Application Measures of GATT, 1994
Consultations
Procedures for consultation
Full consultation procedure
Simplified Consultations
Notification and Documentation
Chapter X
AGREEMENT ON TEXTILES AND CLOTHING
Introduction
A chronology of events leading to the Multifibre Agreement
The WTO Agreement on Textiles and Clothing and the structured removal of quotas
The Agreement to phase out MFA quotas
Slow pace of implementation
Some objectives of quantitative restrictions
Outcomes under the MFA and ATC
Textiles and clothing in the developing world
Value chain dynamics in the textiles and clothing sector
Structure of EU and US imports and post-quota developments
Concluding remarks
Integrating trade in textiles into GATT
Methodology for integration
Experience of implementation of the integration process
Accelerated enlargement of quotas
Implementation of the provisions
Integration of non-MFA restrictions
Transitional safeguard measures
Agreement on Textiles and Clothing, Article 6
Agreement on Textiles and Clothing, Article 6:1
Agreement on Textiles and Clothing, Article 6:8
Experience of the application of ATC provisions
Agreement on Textiles and Clothing, Article 6:2
Rules of origin
United States : product groups to which special rules of origin apply
Increasing use of anti-dumping actions
Anti-dumping duties on textiles and clothing
Members applying duties
Members affected
Business implications
Preparing for increased competition
Chapter XI
TRADE-RELATED INVESTMENT MEASURES (TRIMs)
Introduction
TRADE-RELATED INVESTMENT MEASURES AND INVESTMENT
THE TRIMS AGREEMENT
WHERE WE ARE NOW
THE WAY FORWARD
INVESTMENT
The changing nature of foreign direct investment
Foreign direct investment and development
Is all foreign direct investment good for human development?
What really matters?
A multilateral regime is not essential to attract foreign direct investment
A multilateral investment agreement under the WTO
A multilateral investment agreement would limit policy space
Relationship with the General Agreement on Trade in Services
Mechanism for investor-state disputes
Reconciling the most-favoured-nation principle
Will the smallest and most vulnerable countries benefit from a multilateral
investment agreement?
Lower transactions costs are not inevitable and higher opportunity costs
may not be justified
What are TRIMs?
Business implications
Chapter XII
AGREEMENT ON SAFEGUARDS
Agreement on Safeguards introduction
Structure of the Agreement
General provisions
Coverage of the Agreement
Conditions for Application of Safeguard Measures
Rules governing new safeguard measures (applied after entry into force of WTO Agreement)
Investigative Requirements
Factual Basis for Determination of Serious Injury or Threat Thereof
Application of Measures
Concessions and Other Obligations
Developing Country Members
Rules governing pre-existing measures (applied before the WTO’s entry into force)
Multilateral surveillance and institutions
Chapter XIII
AGREEMENT ON PRESHIPMENT INSPECTION
Introduction
Objectives for using PSI services
Background to the negotiations on the PSI Agreement
Agreement on PSI, Article 1
Countries/areas using PSI services
Main provisions of the Agreement
Agreement on PSI, Preamble
Obligations of PSI-using countries
Main obligations of PSI-using countries
Guidelines for conducting price verification
Agreement on Preshipment Inspection : Provisions on price verification
(the text of Article 2 :20)
Chapter XIV
AGREEMENT ON RULES OF ORIGIN
Introduction
RULES OF ORIGIN
LEGAL FRAMEWORK
Summary of the Agreement on Rules of Origin
(a) Principles
(b) Framework of Harmonization Programme
(c) Schedule of Harmonization Programme
(d) Disciplines Applicable to Preferential Rules of Origin
HARMONIZATION OF THE RULES OF ORIGIN RELATING TO NON-PREFERENTLAL TREATMENT
PROBLEMS OF TRADE POLICIES AND MEASURES IN INDIVIDUAL COUNTRIES ECONOMIC IMPLICATIONS
MAJOR CASE
Textile Products
Purposes for which rules are applied to determine country of origin
Problems posed by differences in the rules for determining origin
Agreement on Rules of Origin, Article 1 : 1
Coverage and objectives
Agreement on Rules of Origin, Article 2
Rules applicable in the transition period
Agreement on Rules of Origin, Article 3(b)
Disciplines during the transition period
(Agreement on Rules of Origin, Article 2)
Preferential rules of origin
Business implications
Chapter XV
IMPORT LICENSING PROCEDURE
Introduction
Agreement on Import Licensing Procedures (ILP), Preamble
INTRODUCTION
GATT NEGOTIATIONS ON NON-TARIFF MEASURES IN BRIEF
THE "KENNEDY ROUND"
THE "TOKYO ROUND"
TO KNOW MORE... THE TOKYO ROUND CODES
The Code on Customs Valuation
Import Licensing Code
TBT Code or "Standards Code"
Anti-Dumping Code
THE "URUGUAY ROUND"
QUANTITATIVE RESTRICTIONS IN BRIEF
OTHER NON-TARIFF BARRIERS
IN BRIEF
IMPORT LICENSING PROCEDURES
IMPORT LICENSING : KEEPING PROCEDURES CLEAR
DEFINITION OF IMPORT LICENSING
BASIC OBLIGATIONS
GATT Article VIII
GATT Article X
FROM THE TOKYO ROUND CODE TO THE URUGUAY ROUND AGREEMENT
MAIN OBJECTIVES
GENERAL PROVISIONS
Neutral application, fair and equitable administration
Publication of rules and procedures
Simple forms and procedures
Other principles
AUTOMATIC IMPORT LICENSING
Definition
Conditions
Main provision for automatic import licensing
Approval of application within 10 working days
Use
NON-AUTOMATIC IMPORT LICENSING
Definition
Main provisions applicable to non-automatic import licensing
No additional restrictive or distortive effects
All relevant information to be published
No discrimination among applicants
Time limits for processing applications
Validity of a licence
Other provisions
NOTIFICATIONS
Copies of publications and full text of laws and regulations
Notification of changes
Reverse notification
Annual questionnaire (by 30 September each year)
COMMITTEE ON IMPORT LICENSING
Agreement on ILP Article 1.1
Agreement on ILP, Articles 2 and 3
Common rules
Automatic import licensing
Agreement on ILP, Article 2
Non-automatic import licensing
Agreement on ILP, Article 3
Business implications
Chapter XVI
CUSTOMS VALUE
Correlation between customs and invoiced value
Theory : customs valuation by the rules of the WTO
Theory : application of the transaction value method (method 1)
How customs value is determined in practice
Position of the State Customs Service
The customs value is lower than the goods’ direct manufacturing costs
Chapter XVII
TECHNICAL INFORMATION ON BALANCE OF PAYMENTS
Introduction
GATT : Articles XII and XVIII : B
The 1979 Declaration
Strengthened provisions under the WTO
Consultations
Procedures for consultation
Full consultation procedures
Simplified consultations
Notifications
Basic Document
Secretariat : Background paper
Contribution by the IMF
Plan of consultations
Special factors
Alternative measures
Chapter XVIII
GATT 1994 AND ENVIRONMENT
I. Multilateral Environmental Agreements and the GATT/WTO Regime
II. BACKGROUND
A. What are Multilateral Environmental Agreements and Why Do They Exist?
B. The Principles of the GATT/WTO Regime
III. WHY DO MEAs USE TRADE MEASURES?
A. Product-Specific Measures
1. Prohibit or limit the trade in "target" product or substance of MEA.
2. Establish a regulatory framework through which to regulate trade in the target product or substance of the MEA
3. Limit markets in goods that contribute to the environmental problem
B. Create Incentives to Encourage Participation in the MEA
C. Discourage "Free-Riders" of the MEA
IV. THE POTENTIAL CONFLICT BETWEEN MEAs AND THE GATT/WTO REGIME
A. MFN and Non-parties
B. National Treatment and MEAs
C. Article XI Quantitative Restrictions
D. Article XX
V. THE IMPLICATIONS OF CONTINUED CONFUSION IN THE RELATIONSHIP BETWEEN TRADE MEASURES OF MEAs AND THE GATT/WTO REGIME:
VI. MULTILATERAL TRADE MEASURES NEGOTIATED IN MEAs ARE THE MOST DESIRABLE POLICY :
A. Transparency and Nondiscrimination
B. Multilateral v. Unilateral
C. Disparate Interests
D. Traditional Practice
E. Growth of MEAs
F. MEA Flexibility
VII. ALTERNATIVE APPROACHES TO RESOLVING THE CONFLICT :
A. Criteria Approach and Article XX Criteria
1. Open Accession and Membership
2. Adequate Levels of Participation from Affected Parties
3. Number of Parties
4. Transparency
5. Non-Parties of MEA Acting in Compliance Should Receive Benefits
6. The MEA’s Trade Measures Should be Consistent with the Environmental Objectives of the MEA
7. Compliance Flexibility of MEA
B. Implementing the Criteria Approach
1. Amendment to Article XX
2. Collective Interpretation of the Members
C. The Waiver Approach
D. The Status Quo Option :
1. Panel Decisions
Environmental Regulations
(a) The Stockholm Conference
(b) The Rio Conference
(c) Montreal Protocol
(d) The Basel Convention
GATT/WTO Rules on Trade and Environment
Environmental Policies covered by Article XX
Trade Related Environmental Measures
MEAs—Their Role, Importance and Approach
Trade, Environment and MEAs
A. CITES
(i) Objectives and Overview of CITES
(ii) Trade-related and Other Measures in CITES
B. Montreal Protocol
(i) Objectives and Overview of the Montreal Protocol
C. Basel Convention
(i) Overview and Objectives of the Basel Convention
(ii) Trade-related and other Measures of the Basel Convention
D. Rotterdam Convention
(i) Overview and Objectives of the Rotterdam Convention
(ii) Trade-related and other Measures of the Rotterdam Convention
E. Cartagena Protocol on Biosafety
(i) Objectives and Overview of the Biosafety Protocol
(ii) Trade-related and other Measures of the Biosafety Protocol
F. Stockholm Convention
(i) Objectives and Overview of the Stockholm Convention ...
(ii) Trade-related and other Measures of the Stockholm Convention
IV. Overview of ME A Trade-related Measures
V. Concluding Remarks
Chapter XIX
AGREEMENT ON THE APPLICATION OF SANITARY
AND PHYTOSANITARY MEASURES
General Provisions of the Agreement
Rights and obligation
Harmonization
Adaptation to Regional Conditions
Transparency
Technical Assistance
Special and Differential Treatment
Consultations and Dispute Settlement
Administration
Final Provisions
Chapter XX
OVERVIEW OF THE WORLD TRADE ORGANIZATION
AGREEMENT ON TECHNICAL BARRIERS TO TRADE
1. Introduction
2. Principles
3. Understanding the functioning of the EU and US internal markets—Improving framework conditions for market access
4. Transparency
5. Technical regulations
5.1 Harmonisation or acceptance of technical regulations
5.2 The reference to standards in technical regulations
5.3 Sub-regional and sub-federal technical legislation
5.4 The TBT Agreement
6. Standardisation
6.1 The EU and US approaches to standard setting and international standards
6.2 Implementing the "bridge-building" document
6.3 Improving cooperation on common standards to further the development of international standards
6.4 Co-operation in international standards bodies
6.5 Specific technical areas
7. Conformity assessment
7.1 Similarities and divergences in the systems of the Parties
7.2 The level of conformity assessment applied to products ...
7.3 Mutual recognition of conformity assessment
7.4 Accreditation
7.5 Marking and labeling
8. Irritants
9. Sectoral measures
II Coverage and Definitions
III Legitimate Objectives
IV. Non-Discrimination
V. Avoidance of Unnecessary Obstacles to International Trade
VI. Harmonization
VII. Equivalence and Mutual Recognition
VIII. Transparency
IX. Developing Countries
X. Dispute Settlement
Chapter XXI
AGREEMENT ON THE APPLICATION OF SANITARY
AND PHYTOSANITARY MEASURES
The Role of Standards and Regulations
The Agreement on the Application of Sanitary and Phytosanitary Measures
1. Negotiating history
2. Salient features of the Agreement
3. Main differences between the SPS and TBT Agreements
Disputes under the WTO involving violations of the SPS
Agreement
Main Issues for Developing Countries in the SPS Agreement
1. The triennial review
2. International standards and international standardizing organizations
The Joint FAO/WHO Codex Alimentarius Commission
The International Plant Protection Convention
The Office International des Epizooties (OIE)
Codex Alimentarius : some options to improve the standard setting process
3. Equivalency
4. Mutual Recognition Agreements
5. Transparency and notification provisions
6. Adaptation to regional conditions
Adaptation to regional conditions : problems and
achievements
Adaptation to regional conditions : the case of Egypt
Basic Rights and Obligations under SPS Agreement
Key features
Protection
Justification of measures
International standards
Adapting to conditions
Alternative measures
Risk Assessment
Transparency
Consultations and Dispute Settlement
Administration
Chapter XXII
INDIA AND WTO
India and the Uruguay Round Agreement
WTO Issues and India’s Concern
Anti-dumping—checking unfair trade practices
Free Trade Agreement with Sri Lanka : Salient Features
UNIT III
Chapter 1
COMPETITION LAW
Introduction
The Gradual Evolution of Pre-modern Competition Policy in the UK
Origins or Irrelevancies : The Common Law Doctrine of the Restraint of Trade
Baby Steps : Monopolies and Restrictive Practices (Inquiry and Control) Act, 1948
A Bipartite Approach : The Restrictive Practices Regime and the Return of Legalism
Consolidation and Improvement of Monopoly Provisions
The Advent and Development of Merger Control
The Late Emergence of an Effective Antitrust Policy
‘Screaming at the Umpire’ : The Prolonged and Curious Inaction on Antitrust
A Time to Dance? : The Competition Act, 1998
Extricating Political Influence from Merger Control
Latter-day Improvements in the Competition Domain
Changes Motivated by Recent EC Reform
Stand Alone Improvements to Domestic Competition Law
Factors Underpinning the ‘Stop-start’ Evolution of UK Competition Law
Antitrust Law in the United States
Competition Policy
Chapter II
MODERN COMPETITION LAW :
SUBSTANTIVE RULES AND PRINCIPLES
(1) Horizontal agreements
(2) Vertical Agreements
(3) Mergers
(4) Abuse of dominance or monopolization
(5) Joint Ventures and Alliances
(6) State aids
(7) Government Action Defences
Chapter III
ENFORCEMENT OF COMPETITION LAW
(a) The European Union
(b) The United States
Competition Act, 2002 and India
Competition Act, 2002
Anti-competitive agreements (Section 3)
Anti-competitive agreements and IPRs
Implications of enforcement of Section 3
Dominant position
Abuse of dominant position (Section 4)
Implications of enforcement of Section 4
Regulation of combination (Section 6)
Thresholds
Stages
Filing of notice
Issue of show cause notice
Publication of details of combination
Invitation of comments and objections from the public
Passing of order
Competition (Amendment) Act, 2009
Monopolies and Restrictive Trade Practices Commission dissolved
Part enforcement without merger control
Competition Commission fully constituted
Appellate tribunal passes first order against Competition Commission
Sectors lobby for block exemption
Draft regulations for merger control likely to be notified Penalties
Execution of commission orders imposing monetary penalty
Penalty for failure to comply with commission directions
Power to impose penalty for non-furnishing of information on combinations
Penalty for making false statement or omission to furnish material information
Penalty for offences in relation to furnishing of information
Power to impose lesser penalty : leniency scheme for cartel members
Comments by the author
Anti-competitive Agreements Void
Over all scheme
Anti Competitive Agreement under Competition Act, 2002
MRTP Act—first trade regulatory legislation in India
Anti Competitive agreements in MRTP Act
Evolution of Competition Law in India
Anti Competitive Agreements under Indian Competition Act
Section 3
Bid Rigging and Collusive Bidding :
Cartels
Agreements
Horizontal agreements
Vertical Agreements
Franchising
Exclusive supply
Tying
Recommended and maximum resale prices
DETERMINATION OF ANTI COMPETITVE NATURE OF AGREEMENTS
Rule of reason
Per Se Rule
Exceptions
Judgments and orders of CCI related to Anti Competitive practices in India
FICCI Multiplex Association of India v. United Producers/ Distributors Forum and Ors.
Decision
Neeraj Malhotra v. Deustche Post Bank Home Finance Ltd. & Ors.
Majority opinion
Dissenting opinion
Competition Commission of India v. Steel Authority of India Ltd. & Anr.
Background
Issues
UNIT IV
Chapter I
INTERNATIONAL MONETARY SYSTEM
THE EVOLUTION OF THE INTERNATIONAL MONETARY SYSTEM : HISTORICAL REAPPRAISAL AND FUTURE PERSPECTIVES
I. THE MYTH AND REALITIES OF THE SO-CALLED GOLD STANDARD Reinterpretation and Conclusions
A Gentle Reminder to the Apostles of Gold Money
A HALF CENTURY OF INTERNATIONAL MONETARY ANARCHY : 1914-1964
A. The Aftermath of World War I
B. The Aftermath of World War II
C. Stopgaps and Expedients
D. The Process of International Reserve Creation over the Last Half-Century
THE LONG-RUN EVOLUTION OF OUR INTERNATIONAL MONETARY SYSTEM
A. A Single Reserve Center
B. Cash Settlements
C. Credit Operations
D. Consolidation of Outstanding Currency-Reserve Balances
E. International Guarantees
F. Surrenders of National Sovereignty
G. Stable versus Fluctuating Rates
H. Whether and When
NEGOTIATING PROSPECTS FOR 1964
Gold Standard
The Bretton Woods Conference
International Monetary Fund (IMF)
FUND’s Resources
(1) QUOTA
(2) Borrowings
(3) Drawing on the Fund
Special Drawing Rights (SDR)
The International Bank for Reconstruction and Development (I.B.R.D.)
Constitution of the IBRD
Objectives of the IBRD
Lending by World Bank
Governance
Investment services
Advisory services
Asset Management Company
Financial performance
Governance
Africa
Asia
Chapter II
INTERNATIONAL MONETARY FUND AS AMENDED
Current Design
Objectives
Duration
Repurchases.
Proposed Modification
Rationale.
Specific Proposal
I. Safeguards
II. WHAT IS WRONG WITH TODAY’S SYSTEM?
II. LOWERING THE DEMAND FOR RESERVES
Access to Precautionary Resources
A Larger Pool of Resources—Some Considerations
Other Incentives
III. SUPPLYING OTHER RESERVE CURRENCIES
Competing Reserve Currencies
An SDR-Based System
A Global Reserve Asset and Currency
Chapter III
EUROPEAN MONETARY SYSTEM
Introduction
The European Monetary System : An Outsider’s View
Principal Features
Credit facilities.
Prospects
Next Steps
A Zone of Monetary Stability
Deflationary or Inflationary Bias
The Rise of the Euro
UNIT V
Chapter I
INTERNATIONAL INVESTMENT
INTERNATIONAL TRADE AND INVESTMENT : AN HISTORICAL AND CONTEMPORARY SURVEY OF RESEARCH AND ANALYSIS
I. INTRODUCTION
II. LOWERING TRADE BARRIERS SINCE 1945
III. INTERNATIONAL TRADE AND INVESTMENT AND ECONOMIC GROWTH AND INCOME
IV. FOUR WAYS INTERNATIONAL TRADE AND INVESTMENT CAN INCREASE ECONOMIC GROWTH AND INCOME
Growth of International Trade and Investment from Trade Liberalization
Gains in Economic Welfare from Lower Trade Barriers
Changes in the Pattern of International Trade and Investment from Comparative Advantage
Gains in Total Factor Productivity and Technology Diffusion from Greater International Trade and Investment
V. CONCLUSION
A. Investment Treaties, Administrative Sovereignty, Economic Progress, and Good Governance
B. The Nature of Foreign Investment Treaties
II. THE RIGHT OF THE FOREIGN INVESTOR TO SUE THE HOST STATE
III. SUBSTANTIVE GUARANTEES FOR THE FOREIGN INVESTOR : THE COROLLARY OF REDUCED SOVEREIGNTY
A. Indirect Expropriation
B. Fair and Equitable Treatment
C. Umbrella Clauses
Chapter II
BILATERAL INVESTMENT TREATIES
AND RELATED AGREEMENTS
BIT program’s basic aims
UNIT VI
Chapter I
UNITED NATION CONFERENCE ON TRADE AND
DEVELOPMENT (UNCTAD)
A Brief Histoiy of UNCTAD
INTRODUCTION TO UNCTAD
1. The background : institutional fragmentalism
2. Origins
3. Principal analytical ideas (the "centre-periphery" structuralist approach)
4. Development strategies
5. Structure
5.1. The Conference
5.2. The Trade and Development Board (TDB)
5.3. The UNCTAD secretariat
5.4. UNCTAD decision-making : the group system
6. Institutional mandate
7. Summary
THE CHANGING INTERNATIONAL CONTEXT SURROUNDING UNCTAD
1. Initial period : the 1960s and the early 1970s
1.1. UNCTAD I (Geneva 1964)
1.2. UNCTAD II (New Delhi 1968)
1.3. UNCTAD III (Santiago 1972)
2. The period of systemic turbulence : the 1970s
2.1. UNCTAD IV (1976)
2.2. UNCTAD V (1979)
3. The "second" Cold War and global recession : the 1980s
3.1. UNCTAD VI (1983)
3.2. UNCTAD VII (1987)
4. Global uncertainty : the period from the mid-1980s to the mid-1990s
4.1. UNCTAD VIII (1992)
5. Period of reform : The mid-1990s onward
5.1. UNCTAD IX (1996)
5.2. UNCTAD X (2000)
5.3. UNCTAD XI (2004)
Meetings of UNCTAD
Geneva, 1964
New Delhi, 1968
Santiago, 1972
Nairobi, 1976 and Manila, 1979
Belgrade, 1983
Foundation
Phase 1 : The 1960s and 1970s
Phase 2 : The 1980s
Phase 3 : From the 1990s until today
Towards UNCTAD XI
Chapter II
INVESTMENT DISPUTES
ARBITRATION
A shared privilege
Intricacies of consent
Unsuccessful efforts at bypassing consent
Intergovernmental treaties and the expanding individuals’ right of action
Keeping time
Resorting to safeguards
Attempting to negotiate
Who can be the party in the dispute?
Closing loopholes in nationality
Functional nature
Contract and treaties
New trade winds
A global overview of the Arbitration System of investment
INTERNATIONAL COURT OF JUSTICE
The Permanent Court of International Justice
ORGANIZATION OF THE ICJ
Basic Texts
Composition of the Court
The Bench
Judges Ad hoc
Official Languages
Costs
JURISDICTION AND APPLICABLE LAW
Types of Jurisdiction
(i) Contentious jurisdiction
(ii) Advisory jurisdiction
Mainline and Incidental jurisdiction
Jurisdiction Rationae Personae
Basis for Jurisdiction
Special Agreement
Jurisdictional Clause
Declarations made under Article 36(2) of the Statute
The Doctrine of Forum Prorogatum
Conditional and Unconditional Jurisdiction
Reservations to Jurisdiction
Some Types of Reservations
Jurisdiction Rationae Temporis
Applicable Law
Article 38(1)
PROCEDURES
Initiating a Case
Representation of the Parties
Interim Measures of Protection
Article 41 of the Statute
Preliminary Objections
Bases for an objection
Right of Intervention of a Third Party
Article 62 of the statute
Written and Oral Proceedings
Written Proceedings
Oral Proceedings
Evidence and Visit to Site
Deliberations of the Court
Drafting and Adoption of the Judgement
Non-Appearance of a Party
Judgement
Revision
Enforcement of a Judgement
United Nations Charter
RELEVANT CASES
Rights of Nationals of the United States of America in Morocco,
(France v. United States of America)
Nottebohm (Liechtenstein v. Guatemala).
Barcelona Traction, Light and Power Co. Ltd., (Belgium v. Spain).
Decision
Elettronica Sicula S.p.A. (ELSI) case (United States v. Italy) ICJ Reports 1989.
ICJ : A FORUM FOR SUBMISSION AND CONSIDERATION OF ECONOMIC DISPUTES
1 Anglo-Iranian Case (1952)
2 Barcelona Traction case 9 ELSI Case
UNIT VII
Chapter I
UNCITRAL (United Nations Commission on
International Trade Law)
I. INTRODUCTION n UNCITRAL
A. History
B. Structure
C. Scope
UNICITRAL—International Commercial Arbitration and Conciliation
A. UNCITRAL Arbitration Rules
1. Introduction
2. Salient features
B. UNCITRAL Model Law on Arbitration
1. Introduction
2. Practical Concerns
3. Salient features
4. Variations and deviations
Article 1. UNCITRAL Arbitration Rules
Article 2. Notice and calculation of periods of time
Article 3. Notice of arbitration
Article 4. Response to the notice of arbitration
Article 5. Representation and assistance
Article 6. Designating and appointing authorities
Section II. Composition of the arbitral tribunal Number of arbitrators
Article 7
Appointment of arbitrators (articles 8 to 10)
Article 8
Article 9
Article 10
Disclosures by and challenge of arbitrators (Articles 11 to 13)
Article 11
Article 12
Article 13
Replacement of an arbitrator
Article 14
Article 15
Article 16. Exclusion of liability
Section III. Arbitral proceedings
Article 17. General provisions
Article 18. Place of arbitration
Article 19. Language
Article 20. Statement of claim
Article 21. Statement of defence
Article 22. Amendments to the claim or defence
Article 23. Pleas as to the jurisdiction of the arbitral tribunal
Article 24. Further written statements
Article 25. Periods of time
Article 26. Interim measures
Article 27. Evidence
Article 28. Hearings
Article 29. Experts appointed by the arbitral tribunal
Article 30. Default
Article 31. Closure of hearings
Article 32. Waiver of right to object
Section IV. The award
Article 33. Decisions
Article 34. Form and effect of the award
Article 35. Applicable law, amiable compositeur
Article 36. Settlement or other grounds for termination
Article 37. Interpretation of the award
Article 38. Correction of the award
Article 39. Additional award
Article 40. Definition of costs
Article 41. Fees and expenses of arbitrators
Article 42. Allocation of costs
Article 43. Deposit of costs
Conciliation
The Model Law as a tool for harmonizing legislation
Background and History
Scope
STRUCTURE OF THE MODEL LAW
ASSISTANCE FROM THE SECRETARIAT
Chapter II
UNITED NATIONS CONVENTION ON CONTRACTS FOR THE
INTERNATIONAL SALE OF GOODS
Introduction
Reservations
Major absentees
Language, structure, and content
Part I : Sphere of Application and General Provisions (Articles 1 to 13)
Part II : Formation of the Contract (Articles 14 to 24)
Part III : Sale of Goods (Articles 25 to 88)
Part IV : Final Provisions (Articles 89 to 101)
Commentary on the Convention
Future directions
Chapter III
UNCITRAL MODEL LAW ON E-COMMERCE
1. Introduction
2. Background Information
3. The Aim of the Convention
4. Scope of the Convention
4.1. B2B Electronic Commerce.
4.2. Place of Business on the Net.
5. Regulation of Electronic Commerce.
5.1. Electronic Contracting.
5.2. Validity of Electronic Contracting.
5.3. The Problem of Electronic Offer.
5.4. Electronic Mistake.
5.5. Evidence of Electronic Transactions.
5.6. Requirements for Writing, Signature and Originality.
5.7. Time and Place of Contract.
6. Interpretation of the Convention.
7. Assessment of the Convention.
Legal Issues or international use of electronic authentication and signature methods Introduction
Electronic signature and authentication methods
1. Definition and methods of electronic signature and authentication
A. General remarks on terminology
B. Main methods of electronic signature and authentication
(i) Digital signatures relying on public key cryptography
(ii) Public and private keys
(iii) Hash function
(iv) Generation of a digital signature
(v) Verification of digital signature
(vi) Other uses of digital signature technology
(b) Public key infrastructure and certification services
providers
(i) Public key infrastructure
(ii) Certification services provide
(c) Practical problems in public key infrastructure implementation
2. Biometrics
3. Passwords and hybrid methods
4. Scanned signatures and typed names
C. Electronic identity management
II. Legal treatment of electronic authentication and signatures
A. Technology approach of legislative texts
1. Minimalist approach
2. Technology-specific approach
3. Two-tiered or two-pronged approach
B. Evidentiary value of electronic signature and authentication methods
1. "Authentication" and general attribution of electronic records
2. Ability to meet legal signature requirements
3. Efforts to develop electronic equivalents for special forms of signature
(a) International applications : electronic apostilles
(b) Domestic applications : seals, notarization and attestation
Cross-border use of electronic signature and authentication methods
I. Legal recognition of foreign electronic authentication and signature methods
A. International impact of domestic laws
1. International obstacles created by conflicting domestic approaches
2. Emerging consensus
B. Criteria for recognition of foreign electronic authentication and signature methods
1. Place of origin, reciprocity and local validation
2. Substantive equivalence
II. Methods and criteria for establishing legal equivalence .
A. Types and mechanisms of cross recognition
1. Cross recognition
2. Cross certification between public key infrastructures
B. Equivalence of standards of conduct and liability regimes
1. Basis for liability in a public key infrastructure framework
(a) Standard of care
(i) Ordinary negligence
(ii) Presumed negligence
(iii) Strict liability
(b) Parties entitled to claim damages and extent of damages recoverable
(c) Ability to contractually limit or disclaim liability
2. Particular instances of liability in a public key infrastructure framework
(a) Failure to issue or delay in issuing a certificate
(b) Negligence when issuing a certificate
(c) Unauthorized use of signature or compromised certificate practice statement
(d) Failure to suspend or revoke a certificate |
