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Publication date: 28.05.2024
Regulation of international trade in goods and services
International trade is an important component of the global economy, contributing to economic growth, development and strengthening of international relations. International trade in goods and services is regulated by national legislation, international agreements and organizations. In this review, we will consider the main aspects of international trade regulation.
Major international organizations
World Trade Organization (WTO)
The World Trade Organization (WTO) is the main international organization that regulates the rules of trade between countries. The main functions and principles of the WTO include:
Ensuring open trade: The WTO promotes the reduction of trade barriers and free trade between member countries.
Trade dispute settlement: The WTO provides mechanisms for resolving trade disputes between countries.
A forum for negotiations: The WTO is a platform for multilateral trade negotiations.
Organization for Economic Cooperation and Development (OECD)
The OECD promotes economic development and improves global trade by providing policy advice and analysis of economic data.
International Monetary Fund (IMF) and the World Bank
The IMF and the World Bank play an important role in stabilizing the global economy, providing financial assistance, and supporting the development of countries through loans and investments.
International trade agreements
General Agreement on Tariffs and Trade (GATT)
The GATT is the basis for multilateral trade agreements aimed at reducing tariffs and other trade barriers.
General Agreement on Trade in Services (GATS)
The GATS regulates trade in services by establishing rules for the provision of services between WTO member countries.
Free trade agreements (FTAs)
FTAs are bilateral or multilateral agreements between countries that reduce or eliminate trade barriers. Examples are:
European Economic Area (EEA): An agreement between the countries of the European Union and the European Free Trade Association.
The North American Free Trade Agreement (NAFTA): Agreement between the United States, Canada and Mexico.
National regulation
Customs tariffs and quotas
Countries set customs tariffs and quotas to regulate the import and export of goods. Tariffs can be ad valorem (as a percentage of the value of the goods) or specific (fixed amounts per unit of goods).
Sanitary and phytosanitary measures
These measures are aimed at protecting human, animal and plant health. They include food safety standards, veterinary regulations, and phytosanitary rules. You may also be interested in the following articles: advice of a lawyer, legal advice, analysis of documents, legal analysis of the situation, written advice, verification of documents by a lawyer, lawyers documents, online legal assistance, online lawyer, legal opinion, legal opinion of a lawyer, lawyer online.
Technical barriers to trade
Technical barriers include standards, regulations, and conformity assessment procedures that can affect trade. For example, requirements for labeling, certification and quality of goods.
Legal aspects of trade in services
Licensing and certification
Providing services in another country may require obtaining licenses or certifications. For example, medical services, legal advice, and financial services often require appropriate accreditation.
