Analysis of the principles of international economic law

Abstract

Objective preconditions for international legal regulation of economic relations are the presence of sovereign states and other subjects of international law, the need for support and development of relations between them in the economic sphere. International legal regulation takes place as a process of influencing the norms of international public law on the system of inter-state economic relations in order to guide and maintain a certain desirable order. International economic law is an indispensable tool for organizing international economic relations. It is conscious of the coordinated influence of states on their development in the right direction. The norms of international economic law are aimed at facilitating the implementation by the states of their sovereign rights in the field of international economic relations, the equal cooperation of States irrespective of socio-economic systems and political regimes, the economic progress of the planet as a whole and developing countries, in particular. Since international economic law is a branch of international public law, these areas have common subjects - states and their similar formations, as well as legal intergovernmental organizations. Among the latter, particular attention should be paid to institutions of integration type, the most striking example of which is the European Union.