The objective of the first part of the course is to provide students with a structured and dynamic understanding of international trade regulation and its relevance for business. It will teach the students how business operators can take advantage of the rights and obligations accruing to Governments under the trading system, the typology of trade disputes and the procedures available to solve trade disputes. Both the multilateral trading system of the WTO and the main regional trade agreements, including the EU-US TTIP, will be addressed.
Specifically, the first part of the course will address the following issues:
- The concept of comparative advantage. Tensions in international trade
- The history of the regulation of international trade and the WTO
- Regional trade agreements: issues and challenges
- Trade in goods: the non-discrimination principles; controlling barriers to trade; exceptions to basic principles; domestic regulation and non-tariff barriers to trade
- Trade remedies
- Trade in services
- Trade-related aspects of intellectual propery rights
- Typology of trade disputes, trade diplomacy and dispute resolution.
The second part of the course will familiarize students with procedural and substantive aspects of contemporary investment law, as it is laid down in a network of over 2,000 bilateral and multilateral investment treaties as well as domestic investment laws. The course will also consider the complex relationship of international investment law with other areas of international law.
Finally, the course will critically examine the legitimacy of international investment law in light of current attempts to reform the system.
Specifically, the second part of the course will address the following issues:
- Instruments: Bilateral Treaties, Multilateral Treaties and Domestic Investment Codes
- Substantive Rules: Expropriation, Fair and Equitable Treatment, Full Security and Protection, Umbrella Clause, National Treatment and Most Favoured Nation Treatment
- Settlement of Investment Disputes
- Investment law and general international law
- Investment law and other rules of international law: isolation or integration?
- The relationship of investment treaties with European Union law
- The future of the investment law system