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  3. Cambridge International Trade and Economic Law

As the processes of regionalisation and globalisation have intensified, there have been accompanying increases in the regulation of international trade and economic law at the levels of international, regional and national laws. The subject matter of this series is international economic law. Its core will be the regulation of international trade, investment and cognate areas, such as intellectual property and competition policy. The series publishes books on related regulatory areas, in particular human rights, labour, environment and culture, as well as sustainable development. These areas are vertically linked at the international, regional and national level, and the series extends to the implementation of these rules at these different levels. The series also includes works on governance, dealing with the structure and operation of related international organisations in the field of international economic law, and the way they interact with other subjects of international and national law.

  • General Editors: Lorand Bartels, University of Cambridge, Thomas Cottier, University of Berne, Tomer Broude, Hebrew University of Jerusalem, Andrea K. Bjorklund, McGill University, Montréal

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53 results in Cambridge International Trade and Economic Law

Page 2 of 3

The Public International Law of Trade in Legal Services
  • David Collins
  • Published online:
    19 October 2018
    Print publication:
    08 November 2018
  • This book examines the international legal regime covering trade in legal services. While legal services are a vital component of the economies of many developed and emerging countries, they remain poorly liberalized with numerous restrictions undermining market access for foreign suppliers. Although some modern bilateral and regional trade agreements have begun to address barriers to trade in legal services, few go beyond the basic commitments of non-discrimination and transparency contained in the WTO GATS. This book approaches the pressing need to open the global market for trade in legal services across the four modes of supply: cross border, consumption abroad, commercial presence and temporary movement of natural persons. It considers changes under way within the legal profession brought about by alternative business structures and technology. Both underscore the importance of reconceptualizing trade in legal services as one that should be as open as possible with a view to maximizing competition while safeguarding the needs of clients.

Industrial Policy and the World Trade Organization
  • Between Legal Constraints and Flexibilities
  • Sherzod Shadikhodjaev
  • Published online:
    19 October 2018
    Print publication:
    08 November 2018
  • The severe global financial crisis of 2008 could not be overcome without government interventions through industrial policy. This timely book analyses industrial policy from the perspectives of trade law and economics under the WTO system. The author expertly examines both general tools of protecting and supporting domestic producers and specific topics like special economic zones, localization, greening measures and creative economy. In addition to legal texts and jurisprudence, this book extensively utilizes other WTO materials to show what is actually discussed in WTO meetings and forums on relevant issues. Where applicable, the author advances practical recommendations for 'right' or 'optimal' industrial policy in certain contexts based on trade rules, case law and some countries' real experiences. The author concludes this work with some thoughts on concrete actions to be taken at the WTO and national levels and in academic circles in order to better tackle industrial policy issues.

The Prudential Carve-Out for Financial Services
  • Rationale and Practice in the GATS and Preferential Trade Agreements
  • Carlo Maria Cantore
  • Published online:
    08 June 2018
    Print publication:
    28 June 2018
  • The World Trade Organization's General Agreement on Trade in Services (GATS) sets out a framework and rules for the liberalization of international trade in services. Paragraph 2(a) of the GATS Annex on Financial Services is generally known as the Prudential Carve-Out (PCO). Notwithstanding GATS obligations, it allows WTO Members to pursue prudential regulatory objectives. This book studies the GATS PCO in light of its negotiating history and economic rationale as well as PCOs in all preferential trade agreements notified to the WTO Secretariat up to the summer of 2017. The author clarifies the state of play of international cooperation on financial services regulation; provides a current understanding of the GATS PCO; analyses how PCOs are drafted in preferential trade agreements and, finally, he seeks to understand whether alternative approaches to the mainstream understanding of the PCO are possible and suggests options for reform.

Judicial Acts and Investment Treaty Arbitration
  • Berk Demirkol
  • Published online:
    20 December 2017
    Print publication:
    11 January 2018
  • Judicial acts of states are becoming increasingly subjected to international investment claims. This book focuses on distinctive particularities of these claims. Although there are no special responsibility regimes for different functions of the state, the application of investment treaty standards and the threshold for their breach may vary depending on the function involved. Accordingly, in order for the state to incur responsibility for a wrongful act committed in the exercise of its judicial function, there are some specific conditions that should be met: the investor must establish that the state is responsible for a breach attributable to the state; the investment tribunal has jurisdiction over the particular dispute; and the damage that the investor has suffered is a result of the particular breach. Berk Demirkol addresses questions in relation to the substance, jurisdiction, admissibility, and remedies in cases where state responsibility arises from a wrongful judicial act.

Distributive Justice and World Trade Law
  • A Political Theory of International Trade Regulation
  • Oisin Suttle
  • Published online:
    29 September 2017
    Print publication:
    12 October 2017
  • What does justice demand in international trade regulation? And how far does World Trade Organization (WTO) law respond to those demands? Whether our focus is developing countries, struggling industries, or environmental protection, distributive conflict is a pervasive feature of international economic law. Despite this, we lack an adequate theory of distributive justice for this domain. Drawing on philosophical approaches to global justice, this book advances a novel theory of justice in trade regulation, and applies this to explain and critique the law of the WTO. Integrating theoretical and doctrinal approaches, it demonstrates the potential for political theory to illuminate and inform the progressive development of WTO law, including rules on border measures, discrimination, trade remedies and domestic regulation. Written from an interdisciplinary perspective, accessible to lawyers, philosophers and political scientists, the book will appeal both to theorists interested in building bridges from theory to practice, and practitioners seeking new perspectives on existing problems.

Freedom of Transit and Access to Gas Pipeline Networks under WTO Law
  • Vitaliy Pogoretskyy
  • Published online:
    04 July 2017
    Print publication:
    27 April 2017
  • Gas transit is network-dependent and it cannot be established without the existence of pipeline infrastructure in the territory of a transit state or the ability to access this infrastructure. Nevertheless, at an inter-regional level, there are no sufficient pipeline networks allowing gas to travel freely from a supplier to the most lucrative markets. The existing networks are often operated by either private or state-controlled vertically integrated monopolies who are often reluctant to release unused pipeline capacity to their potential competitors. These obstacles to gas transit can diminish the gains from trade for states endowed with natural gas resources, including developing landlocked countries, as well as undermine WTO Members' energy security and their attempts at sustainable development. This book explains how the WTO could play a more prominent role in the international regulation of gas transit and promote the development of an international gas market.

Reclaiming Development in the World Trading System
  • 2nd edition
  • Yong-Shik Lee
  • Published online:
    20 October 2016
    Print publication:
    20 October 2016
  • Providing extensive coverage of international trade law from an economic development perspective, this second edition of Reclaiming Development in the World Trading System offers discussion of key principles of international trade law, trade measures, trade and development issues, and regulatory reform. Including such topics as the most-favored-nation principle, national treatment, and tariff binding, Lee also offers insightful analysis into new areas pertaining to agriculture and textile, trade-related investment, intellectual property rights, and trade in services. Looking at trade and development issues in Asia, Africa, and Latin America, as well as microtrade, an innovative international trade system designed to relieve the absolute poverty of least-developed countries, this book is essential reading that gives context to development interests and advances specific regulatory and institutional reform proposals. Lee lends insight into these topics with case analysis exemplifying how our trading systems have been adopted by the developing world in order to foster their own economic development.

Developing Countries and Preferential Services Trade
  • Charlotte Sieber-Gasser
  • Published online:
    05 July 2016
    Print publication:
    21 July 2016
  • WTO law sets the global minimum standards for trade regulation, while allowing some regulatory flexibility for developing countries. The exact scope of regulatory flexibility is often unclear and, at times, flexibility may be counterproductive to sustainable economic growth in developing countries. Undisputedly, developing countries would have some flexibility with respect to tailoring preferential services trade agreements to their individual economic needs and circumstances, but empirical data from over 280 preferential services trade agreements worldwide shows that this flexibility is rarely used. This volume clarifies the regulatory scope of flexibility for preferential services trade agreements between developing countries by linking the legal interpretation of WTO law with evidence from research in economics and political sciences. The book suggests that the current regulatory framework leaves room for meaningful flexibility for developing countries, and encourages policymakers and scholars to take these flexibilities into consideration in their design and study of trade policies.

Establishing Judicial Authority in International Economic Law
  • Edited by Joanna Jemielniak, Laura Nielsen, Henrik Palmer Olsen
  • Published online:
    05 June 2016
    Print publication:
    12 July 2016
  • A central development in international law is the intensified juridification of international relations by a growing number of international courts. With this in mind, this book discusses how international judicial authority is established and managed in key fields of international economic law: trade law, investor-state arbitration and international commercial arbitration. Adopting a unique legal-centric approach, the analysis explores the interplay between these areas of economic dispute resolution, tracing their parallel developments and identifying the ways they influence each other on processual mechanisms and solutions. Drawing together contributions from many leading scholars across the world, this volume considers issues such as the usage of precedent and the role of legitimacy, suggesting that the consolidation of judicial authority is a universal trend which impacts on state behaviour.

WTO Dispute Settlement and the TRIPS Agreement
  • Applying Intellectual Property Standards in a Trade Law Framework
  • Matthew Kennedy
  • Published online:
    05 May 2016
    Print publication:
    21 April 2016
  • The TRIPS Agreement was implemented in the WTO to gain access to a functioning dispute settlement mechanism that could authorize trade sanctions. Yet TRIPS and the WTO Dispute Settlement Understanding are based on systems that developed independently in WIPO and GATT. In this book, Matthew Kennedy exposes the challenges created by the integration and independence of TRIPS within the WTO by examining how this trade organization comes to grips with intellectual property disputes. He contrasts the way intellectual property disputes between governments have been handled before and after the establishment of the WTO. Based on practical experience, this book provides a comprehensive review of the issues that arise under the DSU, TRIPS, GATT 1994 and other WTO agreements in intellectual property matters. These range from procedural pitfalls to substantive treaty interpretation and conflicts as well as remedies, including cross-retaliation.

The WTO and International Investment Law
  • Converging Systems
  • Jürgen Kurtz
  • Published online:
    05 February 2016
    Print publication:
    25 January 2016
  • International law has historically regulated foreign trade and foreign investment differently. Distinct evolutionary pathways have led to variances in treaty form, institutional culture, and dispute settlement. With their inevitable erosion through the late twentieth to early twenty-first centuries, those weak boundaries have become porous and indefensible. Powerful economic, legal and sociological factors are now pushing the two systems together. In this book, Jürgen Kurtz systematically explores the often complex and little-understood dynamics of this convergence phenomenon. Kurtz addresses the growing connections between international trade and investment law, proposing a theoretically grounded and doctrinally tractable framework to understand the deepening relationship between them. The book also offers reform ideas and possibilities, providing treaty negotiators and other government officials with a set of theoretical insights and doctrinal models that can guide actors in building a justifiable and sustainable level of commonality between the two legal systems.

Trade, Investment, Innovation and their Impact on Access to Medicines
  • An Asian Perspective
  • Locknie Hsu
  • Published online:
    05 February 2016
    Print publication:
    12 February 2016
  • The last two decades have seen great economic change in Asia and this has impacted upon the vexed question of access to affordable healthcare and medicines in many Asian states. In this book Locknie Hsu examines the issue of access to medicines in Asia from a fresh perspective which embraces trade and investment law, innovation, intellectual property law, competition policy and public health issues. Hsu explores the key evolving legal issues in these areas, including ASEAN integration, free trade agreement negotiations (such as those for the TPP), bilateral investment agreements and significant court decisions. The book goes on to present proposals for steps to be taken in addressing access to medicines in Asia and will be useful to academic researchers, regulators, law-makers and global organizations involved in the issues surrounding access to affordable healthcare and medicines.

The Law, Economics and Politics of International Standardisation
  • Edited by Panagiotis Delimatsis
  • Published online:
    05 December 2015
    Print publication:
    11 December 2015
  • In an era of increased reliance on private regulatory bodies and globalised economic activity, standardisation is the field where politics, technical expertise and strategic behaviour meet and interact. International standard-setting bodies exemplify the rise of transnational governance and the challenges that it brings about relating to institutional choice, legitimacy, procedural and substantive fairness or transparency. This book takes a more empirical-based approach focusing on the mechanics of international standard-setting. It constitutes a multidisciplinary inquiry into the foundations of international standard-setting, an empirically under-researched yet important area of international informal lawmaking. Contributors expertly examine the peculiarities of international standardisation in selected issue-areas and legal orders and shed light on the attributes of international standard-setters, allowing comparisons among standard-setting bodies with a view to identifying best practices and improve our understanding about standardisation processes.

Export Restrictions on Critical Minerals and Metals
  • Testing the Adequacy of WTO Disciplines
  • Ilaria Espa
  • Foreword by Giorgio Sacerdoti
  • Published online:
    05 December 2015
    Print publication:
    03 December 2015
  • Conventional wisdom on the insufficiency of existing WTO disciplines on export restrictions has triggered momentum on the issue. In this book, Ilaria Espa offers a comprehensive analysis of the scope and coverage of WTO disciplines on export restrictions in light of emerging case law. She investigates whether such rules still provide a sufficient, credible and effective framework capable of preventing abuses in the use of export restrictive measures on critical minerals and metals during a period of economic crisis and change in international trade patterns. Giving a broad overview of the export restrictions applied to these materials, Espa identifies distinctive features in the proliferation of export barriers and analyses the existing WTO rules to reveal their scope, gaps and inconsistencies. She goes on to present solutions based upon her findings with the aim of bringing more coherence and equity to WTO rules on the export side.

Optimal Regulation and the Law of International Trade
  • The Interface between the Right to Regulate and WTO Law
  • Boris Rigod
  • Published online:
    05 November 2015
    Print publication:
    13 November 2015
  • Are the limitations imposed on World Trade Organization (WTO) members' right to regulate efficient? This is a question that is only scarcely, if ever, analysed in existing literature. Boris Rigod aims to provide an answer to this fundamental concern. Using the tools of economic analysis and in particular the concept of economic efficiency as a benchmark, the author states that domestic regulatory measures should only be subject to scrutiny by WTO bodies when they cause negative international externalities through terms of trade manipulations. He then suggests that WTO law, applied by the WTO judiciary can prevent WTO members from attaining optimal levels of regulation. By applying a law and economics methodology, Rigod provides an innovative solution to the problem of how to reconcile members' regulatory autonomy and WTO rules as well as offering a novel analytical framework for assessing domestic regulations in the light of WTO law.

The Social Foundations of World Trade
  • Norms, Community, and Constitution
  • Sungjoon Cho
  • Published online:
    18 December 2014
    Print publication:
    18 December 2014
  • As highlighted by Pascal Lamy, the former head of the WTO, world trade traditionally involves state-to-state contracts and is based on an anachronistic 'monolocation' production/trade model. It therefore struggles to handle new patterns of trade such as global value chains, which are based on a 'multilocation' model. Although it continues to provide world trade on a general level with a powerful heuristic, the traditional 'rationalist' approach inevitably leaves certain descriptive and normative blind spots. Descriptively, it fails to explain important ideational factors, such as culture and norms, which can effectively guide the behaviour of trading nations with or without material factors such as interests and utilities. Normatively, the innate positivism of the traditional model makes it oblivious to the moral imperatives of the current world trading system, such as development. This book emphatically redresses these blind spots by reconstructing the WTO as a world trade community from a social perspective.

Public Participation and Legitimacy in the WTO
  • Yves Bonzon
  • Published online:
    05 October 2014
    Print publication:
    09 October 2014
  • The legitimacy of the WTO's decision-making process has always been questioned, and many have advocated public participation mechanisms as a remedy. Yves Bonzon considers the limits and potential of these mechanisms by advancing a conceptual framework which distinguishes the four 'implementation parameters' of public participation: the goal, the object, the modalities, and the actors. He addresses the issue of legitimacy by considering to what extent, and by virtue of which legal developments, one can see implementing the democratic principle as a goal for public participation in the context of the WTO. By analysing the institutional structure of the WTO and its different types of decisions, he then outlines how this goal should influence the object and modalities of public participation, which decision-making procedures should be opened to public participation, and how the mechanisms should be implemented in practice. Finally, he suggests specific amendments to existing WTO arrangements on public participation.

The Challenge of Safeguards in the WTO
  • Fernando Piérola
  • Published online:
    05 September 2014
    Print publication:
    08 September 2014
  • The Challenge of Safeguards in the WTO provides a comprehensive overview of the safeguard mechanism in the multilateral trading system. It explains at length its historical and conceptual foundations and elaborates on the various requirements for the imposition of safeguards and the conduct of safeguard investigations. The author draws on his practical experience in order to analyse WTO case law as developed by WTO panels and the Appellate Body and to provide practical suggestions for the resolution of various complex issues which have arisen in practice. He also considers the challenges faced by companies involved in this type of case.

General Interests of Host States in International Investment Law
  • Edited by Giorgio Sacerdoti
  • With Pia Acconci, Mara Valenti, Anna De Luca
  • Published online:
    05 July 2014
    Print publication:
    29 May 2014
  • Signatory States have the right to take action in order to maintain their financial stability, stimulate economic development or further their non-economic interests (such as health, the environment and food security). However, such measures can potentially conflict with the rights of foreign investors. Regulators and policy makers must take States' international commitments toward foreign investors into account when making decisions. They must also avoid resorting to protectionism in drafting new treaties. With this tension in mind, this book offers a balanced reappraisal of bilateral treaties and regional agreements on foreign investments. The sensitive issues are examined in the light of the case law of arbitral investment tribunals and other international courts, and the analysis highlights how cross-fertilisation between trade and investment can assist in resolving conflicts.

WTO Disciplines on Subsidies and Countervailing Measures
  • Balancing Policy Space and Legal Constraints
  • Dominic Coppens
  • Published online:
    05 June 2014
    Print publication:
    22 May 2014
  • Does the WTO leave appropriate policy space to its Members to pursue legitimate objectives, such as the economic development of developing countries, the conversion to a greener economy, or recovery in times of a global economic downturn? This legal and normative analysis of the WTO rules on subsidies and countervailing measures sheds light on why governments resort to subsidization and, by tracing the historical origins of the SCM Agreement and the Agreement on Agriculture, on why they have been willing to gradually confine their policy space. This sets the stage for a systematic and comprehensive legal analysis of both agreements, which integrates the vast amount of case law and proposals tabled in the Doha round. A separate case study explores the complex rules on export credit support, and the book closes with an in-depth normative assessment of these WTO rules on subsidies and countervailing measures.

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