In this current period of massive globalization and modernization, the survival of a country on its own is unimaginable. International trade is now fundamental for global economic prosperity. Every country has to depend on other countries for their import or export of raw materials and other essential goods for the proper development of its economy.
The genesis of International Trade Law was laid down in the primitive times by the introduction of the barter system. This system was gradually transformed, developed and got upgraded into a more sophisticated, dignified, and reliable method of the binding written conventional rules, which guide different nations towards the sole aim of a good code of conduct. These conventional rules, policies, and laws are what basically form the functionaries of International Trade Law.
The work of international trade lawyers is split between two main areas:
- Application of domestic law to international trade and
- Treaty-based international law governing trade flows.
On the domestic side, work covers export controls, embargoes and economic sanctions, import relief actions such as antidumping, countervailing duties and safeguards, and customs classifications, valuation, and rules of origin matters. In relation to international treaties, attorneys advise on World Trade Organization (WTO) rules, preferential trade regimes such as the North American Free Trade Agreement (NAFTA) and bilateral investment treaties (BITs).
There is a profusion of career opportunities in the area of International Trade Law both within India and in global organizations outside India. Listed below are few names for the same:
|Legal Firms Practicing in International Trade Law||Export and Import Companies||Government Customs and Excise Department|
|International Trading Companies||National Financial Institutions – Banking and Non-Banking||Dispute Settlement Companies / Individuals|
|IPR Consultants||World Trade Organization||Shipping Companies|
|Academicians||International Finance Organizations – World Bank and IMF||United Nations and similar international organizations|
The LLM Programme in International Trade Law being offered at School of Maritime Law, Policy and Administration of Gujarat Maritime University will cover topics on International Business, The World Trade Organization, Trade and Investment, Risks, Insurance, Transportation and Intellectual property rights and Policy and Theory. The perfect blend of in-class training coupled with practical industrial experiences shall ready the students of GMU to be leaders and change makers in the industry.