JJUB55186U Cancelled International Economic Law and the Green Transition

The course will start with an introduction to the basic structure and principles of international economic law. The general introduction will be followed by three parts, reflecting the three main areas of international economic law: (I) International Trade Law; (II) International Business Law; and (III) International Investment Law and Dispute Settlement. In all three areas the impact of environmental commitments onto international trade and investment will be examined, including such issues as trade and climate change, sustainability of Global Value Chains; and  regulatory space available to the host countries with regard to existing and future investments. Highly interactive character of the course, and various forms of engagement of students, are aimed at development of skills and competences meeting the demands of modern legal practice in an international business context.

Part I (International Trade Law) will provide students with theoretical and practical understanding of the regulatory framework of international trading system.  It will explain the history and background of the World Trade Organization (WTO) as trade institution and its origins as GATT. It will analyze substantive WTO rules on non-discrimination, market access, as well as fair trade issues, as well as the basic principles of trade in goods and trade in services. It will also discuss specific WTO agreements that address non-tariff barriers: the TBT Agreement and SPS Agreement, as well as the trade-related intellectual property rights issues (TRIPS). The relationship between trade rules and other non-trade values, such as environmental protection, climate change, public health and human rights will be examined. The course will also address the issue of the trade wars and the crisis of the WTO Dispute Settlement Mechanism.

Part II of the course (International Business Law) will acquaint students with legal aspects of international enterprises and commercial relations. It will examine regulatory framework for international business transactions, including international legal standards (such as the UN Convention on Contracts for the International Sale of Goods), as well as European law and transnational regulations. Course participants will also get acquainted with legal standards for international payments, with a particular focus on Letters of Credit (L/C) under the Uniform Customs & Practice for Documentary Credits (UCP 600). The course will further examine typical business forms for enterprises active overseas and Multinational Enterprises (MNEs) structures and address the issues of CSR and ESG standards in regard to liability for environmental damages, borne by the MNEs. The problem of environmental sustainability of Global Value Chains will then be discussed. Methods of resolution of international business disputes (in particular international commercial arbitration) will also be examined. 

Part III of the module (Sustainable International Investment Law and Dispute Settlement) will broaden the focus on regulations of the relationships between foreign investors and their host countries by specifically considering impact on the environment and the communities that inhabit the existing/proposed investment sites. International investment law concerns and regulates the protection of foreign investments in the territory of the host country – however, it is also increasingly about the regulatory space of host states, as well as their right to interfere with foreign investment due to public interest or the realization of a public objective. This has become a public issue with greater scrutiny of environmental impact of such investments and the right to regulate ongoing and future investments in view of the challenge posed by climate change.  It is a highly fragmented legal field with over 3000 investment treaties in force, including bilateral agreements (BITs), as well as a growing number of regional, sectoral, or comprehensive agreements. The course will examine the field as a topical, constituent domain in international economic relations. It will also discuss its consequences vis-à-vis public health, environment, development, etc. At the module, students will be introduced to the principles of international investment law, its content, context, scope, status quo; as well as perspectives for its future development. The course attempts to bring together divergent perspective from both the capital/investment-centric point of view as well as the environmental concerns. The course will acquaint students with key legal-political discussions, policy trends and current treaty practice. As a case law driven module, it will also introduce students to the arbitral jurisprudence, arbitral reasoning, as well as international adjudication.

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Course topics

• Introduction: Contents, structure and basic principles of international economic law.

1. I. International Trade Law
2.  

• Multilateral Trading System: History and Institutions
• Substantive WTO rules on Non-discrimination, Market Access and Fair Trade Issues.
• Principles of trade in goods and trade in services
• Specific WTO agreements on Non-tariff Barriers: the TBT Agreement and SPS Agreement, Trade-related Intellectual Property Rights Issues (TRIPS).
• Trade and environment: Carbon taxes
• Trade dispute resolution

II. International Business Law

• Establishment Forms of Commercial Presence Abroad: Types of Business Units, Multinational Enterprises
• CSR/ESG standards and liability of private actors for environmental damage
• Global Value Chains in the context of environmental sustainability
• International Sales and Contract Law
• International Payments: Letters of Credit

III. International Investment Law and Dispute Settlement

• International Investment Law and Politics: History and Development
• International Investment Law and Its Sources
• Substantive Protection Principles
• International Investment Arbitration and Dispute Settlement
• Future of International Investment Law