Read the summary and the most important questions on International Business Law II

• Trade in goods

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• What are the WTO annexes?

  1.  Annex 1A: Agreement on trade in goods ( GATT)
  2. Annex 1B: General agreements of trade in service (GATS)
  3. Annes 1C : Agreements on trade- related aspect of intellectual property rights (TRIPS)

• Who are members of the WTO?

  Members are states and customs territories such as EU, ASEAN

• What are the WTO-GATT principles

  •  Direct effect
    
  • Protection
    
  • Non- discrimination 
    

• What happens in case of a dispute regarding the WTO? Elaborate.

  WTO overrules national law, also called direct effect

• How does the WTO provide protection?

  Each member state may protect its domestic industry tough tariffs. 
  

  • National industries ( not their economy)
    

  To prevent taxes from looking like tariffs -> tariffs must be collected at the same time or point as importation. 
  

  • No quotas / qualitative restrictions / taxes discussed as tarrfis

• What are the exceptions of the WTO-GATT protection

  1. The imposition of temporary export prohibitions or restrictions to prevent or relieve critical shortages of food or other essential products.
  2. The use of import and export restrictions related ti the application of standards or regulations for classifying, grading or making commodities
  3. The use-of quantitative restrictions on imports of agriculture and fishery products to stabilise national agriculture markets
  4. The use of quantitative restrictions to safeguard a states balance of payments
  5. The use of quantitative restrictions by developing state into further its economic development. 

• Explain the GATT non-discriminations general exceptions

  • To protect pubic morals
    
  • To protect human, animal, or plant life / health
  • Products related to prison labour 
  • To protect treasure ( artistic, historic and archaeological value)

• Explain the GATT security exceptions

  Protect essential security interests

• Explain the GATT policy: regional

  To promote and liberalise the international trade at a regional level
  It means —> Free trade area and Customs union

• Explain  multilateral agreements and the types

  
  To avoid impediment of barriers to import/ export, it may be discriminatory
  1. Regulatory agreements 
  2. Sectoral agreements