Overview of the course
This course provides an examination of the law of the World Trade Organization (WTO) and the law on foreign investment. It first provides a brief introduction to the history and evolution of the legal framework for trade liberalization and investment protection. It then proceeds to examine WTO law, focusing primarily on the WTO Agreement on Goods (GATT) and on the WTO Dispute Settlement Understanding (DSU), while a brief overview of topics such as the General Agreement on Services (GATS) and financial services in the GATS as well as intellectual property under the WTO will also be provided. The latter half of this course deals with investment law, focusing on selected substantive obligations for investment protection and investment arbitration as a means of procedural protection for foreign investment. The course concludes by examining the developing trends towards regionalism demonstrated by the ongoing negotiations of mega Free Trade Agreements such as the Trans-Pacific Strategic Economic Partnership Agreement, Transatlantic Trade and Investment Partnership and Regional Comprehensive Economic Partnership.
Aim of the course
The aim of this course is for students to obtain both the knowledge of international trade and investment law – including a critical mass of case-law – and the skills which will enable them to analyze to what extent regulatory measures that have impact on international trade and/or foreign investment are consistent with these laws. It also provides the basis for the analysis of issues of controversy such as the points of divergence and convergence between WTO law and the law on foreign investment, and the role of these fields of law in the global legal order.
Peter Van den Bossche and Werner Zdouc, The Law and Policy of the World Trade Organization (3rd ed., Cambridge University Press, 2013)
Rudolf Dolzer and Christoph Schreuer, Principles of International Investment Law (2nd ed., Oxford University Press, 2012)
Mitsuo Matsushita, Thomas J. Schoembaum and Petros C. Mavroidis, The World Trade Organization: Law, Practice, and Policy (2nd ed., Oxford University Press, 2006)
Zachary Douglas, Joost Pauwelyn and Jorge E. Viñuales, The Foundations of International Investment Law: Bringing Theory into Practice (Oxford University Press, 2014)
Additional reading materials will be provided for each session. E.g. For Session 1, N. DiMascio and J. Pauwelyn, “Nondiscrimination in Trade and Investment Treaties: Worlds Apart or Two Sides of the Same Coin?” 102 Am. J. Int’l L. (2008) pp. 48-89.