International Trade

The pursuit of sustainable development requires balancing the objectives of FDI, Trade, economic growth and environmental protection. Achieving a balance between these often-conflicting priorities is difficult enough at the national level, where competing interests are at least grounded in a common environmental, social and economic context. At the international level, where different countries have vastly different circumstances and priorities, it is significantly harder. One of the many ways in which this challenge manifests itself in the real world is in the conflict between the desire to promote trade by reducing non-tariff barriers and the desire to protect the environment and health through the use of technical regulations and standards.   As competition becomes more global, people are concerned that relatively lenient environmental regulation and lax enforcement in developing countries give them a comparative advantage in pollution intensive goods. Lowering trade barrier may encourage a relocation of polluting industries from countries with strict environmental policy to those with lenient policy. These shifts may increase global pollution, as countries become reluctant to tighten environmental regulations due of their concerns over comparative advantage in international trade. Therefore, trade and FDI may encourage a relocation of polluting industries from countries with strict environmental policy to those with less stringent policy. We call this a pollution haven effect. The pattern of trade depends on which of these effects is stronger. The aim of this paper is to test the validation of the hypothesis of the pollution haven effect on water created by the different industries in the selected countries of Europe and Asia.   Overall, our results show that trade liberalization decreases the BOD emission crated by chemical, food, metal, paper and pulp, textile, wood and other industries but it increases this emission crated by clay and glass industry in the selected EU-Asian countries. JEL Classification : Q51, Q56.

Trade liberalization has induced volatility in the prices of oilseeds. Oilseeds such as rapeseed and mustard, which are rich in vitamins, minerals, and the staple ingredients in many food items. This paper analyzed the international and domestic prices of rapeseed and mustard for India. The analysis showed that India was a net exporter of rapeseed and mustard oilseeds and has experienced lower price volatility for these crops. On the other hand, in terms of processed rapeseed and mustard oil, India has been a net importer. As such it is unable to influence the prices of these products and has greater price volatility in the domestic market. The present study examined these issues in-depth in post-trade liberalization and India’s accession into the World Trade Organization and commitments under the Agreement in Agriculture. The statistical technique used for analysis was the run test and the nominal protection coefficients. Therefore, the present study was carried out to analyze the fluctuations in international and domestic prices of rapeseed and mustard crops after trade liberalization and its impact on the competitiveness of a crop. JEL Classification: D40, F14,O53

Signing a preferential trade agreement between Iran and the Eurasian Economic Union (EAEU) has created a suitable context for the expansion of trade interactions between the countries of this region. With respect to this context, this paper examines food trade potentials between Iran and Russia as two neighbors with significant economies. Product codes are chosen from the 21 categories of the integrated tariff system based on the global definition of food. Data analysis is based on four trade criteria including the Allen cosine measure, the Revealed Comparative Advantage measure, the simple estimate of trade potential measure, and the Drysdale index over the years 2001–2017. These indices illustrate that Iran and Russia have high trade capacities for some items in certain food groups, and that they can facilitate the process of economic integration through reinforcing regional interactions and intra-region trade expansion, while safeguarding national interests and improving national security. The paper concludes that Iran’s food exports to Russia in a particular set of commodity codes enjoy the potential of expansion due to structural similarities between the countries’ food exports, the increasing trend of Iran’s food export potential to Russia, the increasing advantage of these commodity codes in Iran’s export to the world, and the increasing trade expansion opportunities from Iran to Russia.

One of the goals of researchers and policymakers is to find measures to achieve economic growth. Financial development is one of the policies that many economists recommend in order to achieve economic growth and development. From this perspective, financial development is an engine for economic growth, and policymakers should focus on creating and expanding financial institutions and markets. The present study examines the impact of financial development and economic performance indicators including economic growth and international trade in developing and developed countries in the long run from 2001 to 2018. Data collection has been done by two methods, library, and field, to complete the literature and research background, refer to libraries and researches, and for financial and economic data, including financial development indicators in two sections: Bank- Index and Capital Markets Stock-Index, as well as figures for Gross Domestic Product (GDP) and international trade from the World Development Index (WDI) databases, are used. Developed countries, due to their technology and power in production, can carry out their industrial production and export to developing countries. However, developing countries do not see long-term equilibrium relationships for economic growth and international trade.

International trade regulations are often perceived with the labels of security and stability. World Trade Organization (WTO) being the main organization in this globe to regulate and facilitate affairs of international trade has established a stable system for its member states to deal with trades being done between them. Malaysia and China are both member states of the WTO, and these two countries had a long history of trade relationship to date, and the Belt and Road Initiative (BRI) would signify as the latest proof of the business relationship between China and Malaysia Through years of progress, Malaysia has become an important partner of China in Belt and Road cooperation and has achieved fruitful results in economic and trade cooperation. Even though the BRI is still rapidly developing till today, looking at this initiative on the legal side, actually there is no law ever enacted in line to handle legal issues born from the initiative specifically, which there are two reasons contributing to such matter generally, namely BRI’s lack of basis in public international law and the difference in legal systems of BRI participating countries. As such, this doctrinal study will use a qualitative method to look into the legal issues of BRI through three aspects, namely: (i) institutional issues; (ii) dispute resolution; and (iii) criminal issues, beside discussing the impact of BRI towards Malaysia from an economic perspective.

The rise of ISIS has profoundly impacted the economies of Iraq and Syria. This research paper examines the severe repercussions on international trade within these nations. By analyzing the economic and political ramifications of ISIS’s presence, the study aims to reveal how ISIS disrupts the movement of goods and services across Iraq and Syria. A key focus is the disruption of supply chains. ISIS’s presence has caused significant interruptions in production and distribution networks, leading to delays, increased costs, and inefficiencies in trade operations. Additionally, the instability has deterred domestic and foreign investments, resulting in financial losses and economic decline. The paper also addresses the decline in foreign trade. Fear and uncertainty from ISIS’s activities have reduced trade volumes, affecting essential goods and services. Furthermore, ISIS’s control of oil-rich regions has reduced output and led to illegal trade practices, complicating the economic landscape. 

Commercial transactions at the international level, especially by sea, have certain risks, because the companies that enter into these transactions, for various reasons, including not studying the laws and laws of the opposite country and not predicting the risks caused by the economic, political, cultural, etc. crisis, as well as Due to the fact that the process of sending goods and receiving money between distant countries has a higher risk than domestic transactions or through air and land, they suffer harmful and sometimes irreparable effects. Planning and knowledge of legal solutions to reduce and prevent risk can pave the way for safe transactions. Risks can be transferred or minimized. In this article, the types of transaction risks in international sales contracts are discussed. Legal solutions to reduce and prevent them are also suggested. Having an international lawyer in the first place can identify these risks and prevent financial damages. But many risks are predictable and some of the ways to identify them are mentioned in this article.

The United States have adopted competitive and even conflictive trade policies to redefine and rewrite the global political economy in the post globalization era. The prime movers of removing trade barriers and expanding trade concession, have adopted a restrictive theory of trade after terrorist attacks of 9/11, with a gradual shift from an easy international trade environment to a selective preferential trade relations with like- minded countries. New measures and technologies were developed to track movement of different goods. Logistics and international shipping industries were negatively affected due to national restrictive policies. The international financial crisis and Covid-19 were additional factors to push developed countries to adopt protective trade policies to neutralize the negative impact of the crisis in the absence of financial resources. Former trade partners were considered competitors and those with different trade theories or interests became adversaries. US trade disputes and conflicts surged in XXI century and international dispute settlement mechanisms were challenged by US foreign policy to obtain concessions. This article is meant to respond to the question that “What is the US practice in international trade in the post-globalization era and what would be the implications for the developing countries and global business environment”? The hypothesis is that “US trade policy and practice in the twenty first century has been affected by global geopolitics and geo- economics, where emerging poles of power are meticulously considered and long-term strategies are adopted. In this context; trade disputes, wars and sanction diplomacy might happen either for trade inequality concerns, optimal tariff theory, or politically painted economic objectives”. A qualitative analytical methodology is used to study roots and causes of re-globalization wars and to analyze consequences of antagonistic approaches for the multilateral trading system. A new liberal theoretical framework is used to analyze post- globalizations US trade practices.