International trade law includes the appropriate rules and customs for handling trade between countries. However, it is also used in legal writings as trade between private sectors, which is not right. This branch of law is now an independent field of study as most governments has become part of the world trade, as members of the World Trade Organization (WTO). Since the transaction between private sectors of different countries is important part of the WTO activities, this latter branch of law is now very important part of the academic works and is under study in many universities across the world.
Read more about International Trade Law: Overview, World Trade Organization, Trade in Goods, Trade and Intellectual Property, Dispute Settlement
Famous quotes containing the words trade and/or law:
“It passes, and we stay:
A quality of loss
Affecting our content,
As trade had suddenly encroached
Upon a sacrament.”
—Emily Dickinson (1830–1886)
“If one mistreats citizens of foreign countries, one infringes upon one’s duty toward one’s own subjects; for thus one exposes them to the law of retribution.”
—Johann Wolfgang Von Goethe (1749–1832)