International Business Law Assignment Example | Topics and Well Written Essays - 2500 words

International Business Law - Assignment ExampleThe overall importance of WTO is circumstantial regarding establishing a contact lens amid trade and environment because it is the single most important document which governs the planetary trade. The growing logical parentage thus is focused upon the potential role of WTO in clearly establishing a link between global trade and environment. Prescription of different standards as well as the framework therefore is one of the key tasks which WTO has to perform in order to comprehensively establish the link between the two. This musical theme will discuss the linkages between trade and environment and how it has remained on of the important challenges for foreign business law. This melodic theme will also discuss as to what steps by WTO during last decade to properly wrap up this issue within the perspective of international trade. Environment and international trade Trade is considered as in force(p) for the society and the eco nomy and its liberalization can actually help any society to achieve greater sparing resources. It is critical to understand however that with increased trade and production processes, the overall pace of economic degeneration can expedite and the results can be both negative as well as positive. Environment can be protected if cleaner technologies are implemented which involve less button consumption besides relying more than on labor intensive techniques. The environment can also be damaged because growth in production process requires more energy and raw materials and hence more environmental de-gradation can take place. There is therefore a nexus between environment and international trade and how expansion of international trade can actually result into both the protection as well as degradation of environment. (Charnovitz, 2007.) Serious efforts to actually integrate concerns for environment and international trade started during seventies and as a result of this growing de bate, an international conference in Stockholm took place to debate on the future course of defining how international trade agreements can actually affect the businesses with hearty potential to damage environment. Prior to this conference, GATT undertook a study on its own behalf to determine and explore the extend to of environmental protection policies on international trade. In same year, Environmental Measures and International Trade theme was established however, it remained inactive for more than two decades and it was only in during 1992 that this group was convened by members. (Charnovitz, 2007.) Subsequent legislative efforts include Tokyo round and Uruguay round went on to establish different standards and kick started the process of integrating international trade with that of the environment protection. There was also growing concerns among developing countries regarding the export of those products which were considered as environmentally damaging with serious saf ety and health related issues. The overall debate was therefore based upon the argument that free trade has an impact on the environment and that higher levels of free trade can gain ground result into damage to the environment. (Charnovitz, 2007.) The recent efforts however by WTO clearly outline the way the nexus between free trade and environment. Though WTO