Baltic Journal of Economic Studies (Apr 2024)
INTERNATIONAL LEGAL STATUS OF THE WORLD TRADE ORGANISATION IN THE CONTEXT OF ECONOMIC GLOBALISATION
Abstract
The subject of the study is the conceptual, theoretical, empirical, methodological and applied foundations of the international legal status of the WTO in the context of economic globalisation. Methodology. General scientific and specific legal methods were used in the research process. With the help of the analysis the quantitative and qualitative characteristics of international trade are determined as a prerequisite for the determination of the international legal status of the WTO in the conditions of economic globalisation. The synthesis ensured the formation of characteristic features of the legal status of the WTO as an international organisation. The comparative legal method allowed to identify the common and distinctive features of international organisations in this area, as well as to clarify the defining aspects of the legal personality of the WTO in the modern international legal field. The formal-legal method created the conditions for formulating conclusions on the effectiveness of the implementation of the legal personality of the WTO in the sphere of ensuring the rules of international trade in the conditions of economic globalisation. The purpose of this article is to identify the characteristics of the international legal status of the WTO under the conditions of economic globalisation. The results of the study showed that the international legal status of the WTO in the conditions of economic globalisation is based on the basic principles of legal regulation of international trade and is mediated by the purpose of activity, legal personality, the order of formation and powers of the governing bodies, principles and procedural aspects of the functioning of this organisation. Conclusion. The international legal status of the WTO in the conditions of economic globalisation is considered from the standpoint of a dichotomous approach to this category from the standpoint of economics and law. Economic preconditions for the introduction of international trade rules in the form of GATT, 1947 and WTO research through the analysis of primarily statistical data of the periods 1947-1948 and 2017-2022, reflected in the consolidated information data of the WTO, as well as the study of individual theoretical considerations of scientists. Statistical indicators show clear signs of globalisation of the world economy, which is mediated by international trade operations, as a result of which the creation of transparent mechanisms for the circulation of goods within the framework of trade activities as a kind of existence of the world community through various static and dynamic legal constructions, among which WOT occupies almost the most significant importance along with other international organisations. The above is demonstrated by the example of the impact of COVID-2019 on international trade, the corresponding reaction to which was the revitalisation of trade processes, primarily in the field of pharmaceutical industry products. The above has covered the main principles of international legal regulation of trade relations at the formal and substantive level, which is carried out at the universal international legal, regional international legal and national levels. In connection with the differentiation of the components of the legal personality of the WTO, the definition of international legal capacity is given as the ability of a subject of international activity to acquire appropriate rights for itself by its own actions and to exercise them independently, as well as to create corresponding obligations for itself by its actions, to fulfil them independently and to bear responsibility in case of their non-fulfilment. In terms of the nature of this organisation, its place among other similar international organisations, in particular those operating within the framework of the UN, was invented by the field of activity, where attention is paid to the predominance of the latter in order to maintain international peace and security. The purpose of the activities of the WTO is to create and ensure international, multilateral, open, based on fair competition and other features inherent to trade in modern society, where the quasi-procedural moment, based on the replacement of a number of bilateral and multilateral agreements, is an external manifestation of such activity. It characterises the original and derivative legal instruments of the WTO's operation, defines the socio-economic and legal purpose of its activities, defines the structure and powers of the WTO's governing bodies, and focuses the organisation's legal personality on the procedural aspect of its activities, in particular through the implementation of relevant principles, among which the principle of maximum contribution plays a leading role.
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