Study-Unit Description

Study-Unit Description


CODE CML4015

 
TITLE International Trade and Investment Law

 
UM LEVEL 04 - Years 4, 5 in Modular UG or PG Cert Course

 
MQF LEVEL 6

 
ECTS CREDITS 4

 
DEPARTMENT Commercial Law

 
DESCRIPTION This study-unit is divided into two parts, and aims to initiate the student in the field of international trade and investment law.

The two subjects, though tackled distinctly, are in fact complementary and inter-dependent.

Part 1 - International Trade Law

This Part deals with the international trade aspect of the course, by looking into the structure, functions and the decision making process of the World Trade Organisation (WTO) as the leading international institution in matters concerning multilateral trade law. The student is introduced to the multilateral trade agreements under the remit of the WTO. The course concludes with an analysis of the WTO’s dispute settlement procedures.

Detailed Description:

1. Overview of the WTO

2. Sources of WTO law

3. WTO law and domestic law

4. The most-favoured nation principle and the national treatment principle

5. International Trade in Goods I
- General Agreement on Tariffs and Trade (GATT)

6. International Trade in Goods II: Trade Remedies
- Anti-dumping/safeguards law and practice
- WTO Agreement on Subsidies and Countervailing Measures

7. The General Agreement on Trade in Services

8. WTO plurilateral Agreement on Government Procurement

9. Dispute settlement in the WTO

10. Conclusion and revision

Part 2 - International Investment Law

This Part covers the legal frameworks regulating international direct investment and examines the relevant international treaty provisions and Maltese legislation aimed at protecting and promoting investment in an international context. The lectures will also deal with private law aspects of foreign direct investment including the structuring of business seeking growth through investment in an international treaty and domestic law context.

Detailed Description:

1. International Investment Law
- Nature of International Investment Law
- Foreign Direct Investment; Investors and Investments

2. Multilateral Investment Agreements
- Investment relevance of the General Agreement on Tariffs and Trade (GATT); The Agreement on Trade-Related Investment Measures (TRIMs) and parts of the General Agreement on Trade in Services (GATS)
- Other international initiatives, principles and guidelines

3. Regional Agreements – beyond investment protection

4. Bilateral Treaties

5. Investment Disputes

6. The EU and Investment

7. National Investment Laws

8. Maltese Incentives Legislation

9. Joint Ventures and other investment contracts

10. Public involvement in FDI

Study-Unit Aims:

- To analyse the relevant legal principles and principal treaty provisions underpinning international trade and investment.
- To examine Malta’s position in the relevant international legal context.
- To analyze business structures and incentives within the parameters of International Trade rules, practices and restrictions.

Learning Outcomes:

1. Knowledge & Understanding:

By the end of the study-unit the student will be able to:
- Acquire a comprehensive knowledge of international trade and investment law and policy through a holistic approach, by complementing the legal dimension with the economic dimension and by looking at the whole scenario of a rules-based international trading system;
- Acquire a reasonable grasp of the principles, structures, decision-making factors, dispute settlement mechanisms and agreements in the relevant areas;
- Learn the main international economic law issues with respect to trade in goods and services, foreign direct investment and economic development and the current challenges in the applicable legal frameworks.

2. Skills:

By the end of the study-unit the student will be able to master and be able to work in an environment which requires skills in the following areas:
- The implementation of economic policies through legislation;
- The interpretation and application of WTO and other treaty provisions in this area;
- The role and evolution of legislative incentives in a business and regulatory context;
- The interpretation and analysis of incentives available under current legislative schemes;
- The main features in the contractual and legal instruments involved in the grant of incentives;
- The relevant legal issues and instruments involved in the negotiation and establishment of joint ventures and other contractual relationships.

Main Text/s and any supplementary readings:

Part 1:

- De Burca Grainne & Scott Joanne, (Eds,), The EU and the WTO – Legal and Constitutional issues, First Edition, Hart Publishing Oxford and Portland Oregon, 2003.
- Lawrence Robert, Crimes and Punishment, Retaliation under the WTO, First Edition, Washington DC: Institute for International Economics, 2003.
- Matsushita Mitsuo, Schoenbaum Thomas & Mavroidis Petros, The World Trade Organisation – Law, Practice and Policy, Third Edition, Oxford University Press, 2017.
- Sutherland Peter et al, The Future of the WTO – Addressing institutional challenges in the new millennium, Report by the Consultative Board to the Director General Supachai Panitechpakdi, Geneve, World Trade Organisation.
- Van den Bossche Peter, The Law and Policy of the World Trade Organisation, Text, Cases and Materials, Third Edition, Cambridge University Press, 2013.
- World Trade Organisation, The Legal Texts: The results of the Uruguay Round of Multilateral Trade negotiations, First Edition, Cambridge University Press, 2002.

Part 2:

- Collins, David – An Introduction to International Investment Law, Cambridge, 2017.
- Dolzer, Rudolf and Schreuer, Christoph – Principles of International Investment Law, 2nd Edition, Oxford, 2012.
- Nadakavukaren Schefer, Krista – International Investment Law – Text Cases and Materials, 2nd Edition, 2016.
- Krishnan, Arun – The Legal Regulation of Foreign Direct Investment and its Role in the Growth of National Economies, 2008.
- UNCTAD - The Development Dimension of FDI: Policy and Rulemaking Perspectives, 2003.
- Identifying Core Elements in Investment Agreements in the APEC Region, UNCTAD, 2008.
- Brincat, Mario - The Birth of the ‘Maltese Model’ of Development 1945 – 1959, Journal of Maltese History Volume 1 Number 2, 2009.
- C.M. Schmitthoff, ‘The Unification or Harmonisation of Law by Means of Standard Contracts and General Conditions’.(1968) 17 ICLQ 554,555.
- Model Contracts for Small Firms, International Trade Centre 2010 – Chapter 1 and 2.

 
ADDITIONAL NOTES Students taking this study-unit need to have a background in law.

 
STUDY-UNIT TYPE Lecture

 
METHOD OF ASSESSMENT
Assessment Component/s Assessment Due Sept. Asst Session Weighting
Examination (2 Hours) SEM1 Yes 100%

 
LECTURER/S Joseph Bugeja
Michael Xuereb (Co-ord.)

 

 
The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints.
Units not attracting a sufficient number of registrations may be withdrawn without notice.
It should be noted that all the information in the description above applies to study-units available during the academic year 2023/4. It may be subject to change in subsequent years.

https://www.um.edu.mt/course/studyunit