CONCEPTS The world trading system is based on

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10 Δεκ 2013 (πριν από 3 χρόνια και 6 μήνες)

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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 (1750
-
1880) 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 (1946
-
1948)


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


1986
-

1994


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

http://www.wto.org/english/docs_e/legal_e/legal_e.htm

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)