The legal and economic implications of multilateral trade agreements in goods under the Aegis of the World Trade Organization

Abstract

Chapter one consists of an abbreviated version of the history of international economic law. It also deals with the origins of the World Trade Organization. Chapter two outlines the structure, functions and objectives of the World Trade Organization with particular reference to the trade in goods sector. Chapter three tackles two of the most important principles of the World Trade Organization: the Most-Favoured Nation Treatment and the National Treatment principles. Chapter four focuses on some of the most important provisions of the General Agreement on Tariffs and Trade of 1994, in particular those provisions relating to tariff and non-tariff trade barriers. Chapter five provides a general analysis of the provisions of the Agreement on Implementation of Article VI of the GATT 1994. This chapter, as well as the next two chapters, provide a legal examination of the trade defence instruments available to the Members of the World Trade Organization. Chapter six briefly examines the main provisions of the Agreement on Subsidies and Countervailing Measures. Chapter seven deals with Article XIX of the GATT 1994 and the Agreement on Safeguards. However, whereas the previous two chapters dealt with measures adopted to counteract unfair trading practices, this chapter deals with measures adopted in cases of economic emergency exceptions resulting from fair trade practices. Chapter eight focuses on the Technical Barriers to Trade Agreement. This agreement is intended to promote the harmonisation of legislation. However, if the original purpose of this agreement is deviated from, it can become trade restrictive. The conclusion provides a general overview of the economic implications of multilateral trade agreements in goods. It also briefly discusses the current situation of the World Trade Organization as well as the possibility for future improvements.