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:
“With respect to a true culture and manhood, we are essentially provincial still, not metropolitan,—mere Jonathans. We are provincial, because we do not find at home our standards; because we do not worship truth, but the reflection of truth; because we are warped and narrowed by an exclusive devotion to trade and commerce and manufacturers and agriculture and the like, which are but means, and not the end.”
—Henry David Thoreau (1817–1862)
“Bear one another’s burdens, and in this way you will fulfill the law of Christ.”
—Bible: New Testament, Galatians 6:2.