On May 23, 2016 the Valdai Discussion Club and HSE-Skolkovo Institute for Law and Development will hold a seminar "International Trade in the 21st Century: Non-Discriminatory Rules or Sanctions and Fragmentation?".
When four years ago Russia joined the WTO, many hoped that this would give impetus to the economic development and contribute to the country's integration into the global economy. But since then much has changed, and now the question is which way the development of the international trade will take and whether it proceeds in the framework of WTO?
WTO rules do not prohibit the conclusion of preferential trade agreements, but some of them (such as the Trans-Pacific Partnership and the potential Trans-Atlantic Trade and Investment Partnership) are a threat to the WTO rules. These agreements were prepared secretly by a small group of countries, and their regulations go so far that they may lead to a serious fragmentation of the legal international trade regime.
Unilateral economic sanctions are another factor contributing to the fragmentation of international trade. Paradoxically the WTO rules are extremely inefficient in combating such large-scale initiatives of economic sanctions on the ground of "national security" and "extraordinary circumstances in international relations."
Participants at the seminar will discuss the future regulation of international trade. Is the WTO mission to protect the international trade from political interference and facilitate trade between states even with bad political relations, or is it a club of friendly countries that are incapable to maintain international trade when relations are corrupt? Is there a legal right to participate in the international trade and how it can be protected by current international laws? Will the WTO survive after the establishment of Transoceanic Partnerships and expansion of economic sanctions regimes? Are there any effective methods of protection against sanctions?
The seminar will bring together leading experts in the international trade: