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Trade, International Law Of

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Chapter Summary

There is no unanimously recognized definition of &t;International Law of Trade&t;. The term &t;International Law of Trade&t; is more accurate than &t;International Trade Law&t;, which does not explicitly exclude the trade-related items of (national) Private International Law. In line with this definition, questions of commercial customs (lex mercatoria) are, among other matters, attached to Private International Law, rather than the International Law of Trade. A brief outline of the key features of the WTO/GATT '94 system is given in this chapter, because most trade-related instruments either refer directly to the system's trade rules or need to be brought into line with them. Foreign aid helps developing countries improve their chances on the world market and thus makes an indirect contribution to the promotion of international trade. Trade embargo law, which regulates a specific form of economic discrimination, is also part of the International Law of Trade.

Keywords: embargo law; foreign aid; GATT; International Law of Trade; WTO

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