The Role of International Trade Law in Global Economic Development

Abstract

The establishment of the legal framework that governs international trade and investment is a significant contribution that international trade law makes to the process of determining the growth of the global economy. The purpose of this paper is to investigate the myriad ways in which international trade law influences economic growth. More specifically, the article will concentrate on the ways in which it boosts economic integration, facilitates trade liberalization, and supports sustainable development. The historical development of international trade law, beginning with the adoption of early trade agreements and culminating in the formation of global institutions such as the World Trade Organization (WTO). It investigates the ways in which international trade agreements, such as bilateral, regional, and multilateral treaties, have an impact on the economic policies and practices that are implemented on a worldwide scale.