Tag Archives: international trade law history

International trade law refers to the rules and customs for handling trade between two or more nations or between private companies across borders. It is a combination of national or domestic law and public international law that pertains to transactions for goods or services that cross national boundaries. In the last two decades, it has become one of the fastest emerging branches of international law. An important document in regards to international trade laws came after World War II, with the General Agreement on Tariffs and Trade (GATT). The GATT came into effect in 1947 and came to be due to the failure of negotiating governments to create the International Trade Organization .The GATT was in effect until 1994, until its replacement by a more modern and organized system. In 1995, the World Trade Organization was created, replacing the GATT, to regulate, supervise, and liberalize international trade. This was a crucial development in the history of international trade laws, and for international trade itself. The World Trade Organization supervises the trade between the nations involved, and sets a basis for negotiating and forming trade agreements. It also has a set dispute resolution process, to deal with issues … Continue reading