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Article
Publication date: 8 December 2023

Leila Choukroune and James J. Nedumpara

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Abstract

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Journal of International Trade Law and Policy, vol. 22 no. 3
Type: Research Article
ISSN: 1477-0024

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Article
Publication date: 28 November 2023

Ronjini Ray and Jamshed Ahmad Siddiqui

This paper aims to highlight the lacunae in international trade law concerning unilateral economic sanctions that impact food security.

201

Abstract

Purpose

This paper aims to highlight the lacunae in international trade law concerning unilateral economic sanctions that impact food security.

Design/methodology/approach

This paper adopts a literature review to establish that unilateral economic sanctions impact food security and a descriptive assessment of a few such sanctions. Thereafter, it adopts doctrinal analysis of such sanctions under World Trade Organization law and identifies the gaps to address the specific situation of unilateral economic sanctions that impact food security.

Findings

Unilateral economic sanctions are not effectively regulated under international law. Unilateral economic sanctions are known to impact food security not just in the targeted country but also in third countries. Under international trade law, the security exception under Article XXI of the General Agreement on Tariffs and Trade (GATT) does not currently require an assessment of necessity and proportionality of measure. However, there is scope for such an assessment in the future depending on the circumstances, particularly if a measure impacts the rights and interests of third countries by impacting global food security.

Originality/value

The paper conducts a literature review of the impact of unilateral economic sanctions on food security. It highlights the gap in the interpretation of GATT Article XXI when assessing such sanctions that adversely impact the food security of third countries. The paper may be helpful for academics, policymakers, international organizations, non-governmental organisations, etc.

Details

Journal of International Trade Law and Policy, vol. 22 no. 3
Type: Research Article
ISSN: 1477-0024

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Article
Publication date: 28 August 2024

Sai Ramani Garimella and Soumya Rajsingh

International investment law governs matters related to transnational investments. The extensive reach of transnational corporations (TNCs) has granted them substantial economic…

40

Abstract

Purpose

International investment law governs matters related to transnational investments. The extensive reach of transnational corporations (TNCs) has granted them substantial economic, political and social influence, often intertwining them with public interest issues and implications in human rights violations. This paper aims to explore the profound influence exerted by TNCs in today’s globalized world and its implications for human rights and social responsibility within the framework of international investment law. Particularly, it acknowledges the vulnerability of economically weak South Asian states and cites past instances such as the Bhopal gas tragedy in India and the Rana Plaza disaster in Bangladesh as egregious violations of human rights. Focusing on South Asian bilateral investment treaties (BITs), this paper aims to examine the scope of investors’ social accountability.

Design/methodology/approach

This research engages with doctrinal and analytical methods in traversing through primary and secondary sources. It would parse the arbitral tribunals’ jurisprudence for their discussion on the inclusion of social accountability obligations within international investment agreements (IIAs). Further, it engages in a quantitative analysis related to the nature of the social accountability-related obligation of the corporation within South Asian BITs.

Findings

The findings reveal a glaring absence of the law on investors’ social accountability and the need for enhanced regulatory mechanisms to address the escalating influence of TNCs on human and social rights. The absence of a robust legal framework, coupled with the asymmetric nature of international investment law, granting investors greater rights and leverage compared to states, exacerbates this challenge. The phenomenon of “regulatory chill” inhibits states from effectively enforcing regulatory measures aimed at protecting human rights and the environment. Furthermore, the broad interpretation of clauses such as “fair and equitable treatment” by investment tribunals often undermines states’ ability to implement measures in the public interest. While international organizations such as the UNCTAD and the UNCITRAL Working Group III are actively discussing reforms to IIAs, the existing guidelines addressing investors’ social accountability are woefully lacking in the content as well as the method of their integration with international human rights law. The findings underscore the imperative for South Asian nations, the subject of this research’s empirical analysis, to adopt a comprehensive approach involving both domestic law reforms to promote corporate social accountability and active pursuit of negotiations for the inclusion of binding social obligations for investors within IIAs.

Practical Implications

This research, drawing upon international law developments, offers suggestions for incorporation of social accountability provisions via relevant domestic law reform. The research could be viewed as a prelude for mapping the legal developments in the area of investors’ social accountability within investment agreements, as well as investment contracts, drawing guidance from international law instruments.

Originality/Value

To the best of the authors’ knowledge, no other study analysed the scope of investors’ social accountability in South Asian BITs.

Details

Journal of International Trade Law and Policy, vol. 23 no. 2/3
Type: Research Article
ISSN: 1477-0024

Keywords

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