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Introductory Remarks: Implementing International Economic Law Through Dispute Settlement Mechanisms

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Chapter Summary

As one of the branches of international law, international economic law is very likely to be one of the most significant areas of law throughout the 21st century. The fundamental principles concerning the interpretation and application of treaties of international law will play central role in settling such disputes. International economic law covers very broad and different fields since it deals with all economic aspects of relations among the subjects of international law. This chapter provides an overview of the book, which demonstrates that the practice of the international institutions such as the panels, the Appellate Body of the World Trade Organisation (the WTO), and the International Centre for the Settlement of Investment Disputes (the ICSID) went beyond merely interpreting and applying the rules of international economic law and included formulating new rules when needed.

Keywords:ICSID; international economic law; World Trade Organisation (WTO)



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