International Trade Law PDF

International Trade Law By: Dr. Mahmoud Hegazy International Trade Law: Contents I . An Introduction: Definition and Origins II. ITL main principles and rules. III. Trade disputes and settlement. IV. Arbitration. V. Contracting. 2 Textbook ! Schaffer, Agusti, Dhooge, Earle, International Busin...

International Trade Law By: Dr. Mahmoud Hegazy International Trade Law: Contents I . An Introduction: Definition and Origins II. ITL main principles and rules. III. Trade disputes and settlement. IV. Arbitration. V. Contracting. 2 Textbook ! Schaffer, Agusti, Dhooge, Earle, International Business Law and it’s environment :, 18th Edition, South Western Legal Studies in Business Academic Series, 2012. ! Academic papers related to International Trade Law, published in International periodic and journals. 3 Requirements ● ● ● ● Enhance and improve your knowledge through reading relevant articles. General discussion of the Lecture subject. Preview the relevant part of the reading material. In classroom, listen, take notes and speak out your understanding of what we have been studied. 4 Definition of ITL ▪ What does International Trade mean? ▪ How would states behave in dealing with International Trade? ▪ Does it need some kind of regulation? What do you think should be the characteristics of that Regulation: local or International? What is the optimal way? Who create its rules? ▪ How was International Trade Law formed ? 5 What is International trade ▪ International Trade is usually referred to the exchange of capital, goods, and services across international borders or territories. In most countries, it represents a significant share of gross domestic product (GDP). In 2010, the value of international trade achieved 19 trillion (current US) dollars, i.e. about 30% of the world GDP. That is, about one third of the produced goods and services are exchanged internationally around the world. ▪ The exchange of goods or services along international borders. This type of trade allows for a greater competition and more competitive pricing in the market. The competition results in more affordable products for the consumer. The exchange of goods also affects the economy of the world as dictated by supply and demand, making goods and services obtainable 6 which may not otherwise be available to consumers globally. Is it important? According to "Global Policy Forum", till 2030, 60% of the world economy be exchanged internationally. That is the share of the rest of the world in each national economy will be more than the share of his own domestic economy. Many current evidences are in line with this prediction. For example, either country in the world is now member of, at least, one international trade agreement. In such circumstances, domestic economy will be affected more and more by the world economy. That is, the level of income, employment, wages, growth, and development in a country is not only a result of its domestic policies, but also determined by its position in the world economy. No market is spared by this fact. Consequently, a good knowledge of International Economics becomes vital for any economist. Some times, a good economic policy regarding his international relations is more beneficial than 7 any policy arranging domestic economic issues of that country. Continued: ▪ All countries need goods and services to satisfy wants of their people. Production of goods and services requires resources. Every country has only limited resources. No country can produce all the goods and services that it requires. It has to buy from other countries what it cannot produce or can produce less than its requirements. Similarly, it sells to other countries the goods which it has in surplus quantities. Every country, buys from and sells to other countries various types of goods and services. ▪ Generally no country is self-sufficient. It has to depend upon other countries for importing the goods which are either non-available with it or are available in insufficient quantities. Similarly, it can export goods, 8 which are in excess quantity with it and are in high demand outside.