International Trade Relations Research Articles

The importance of non-tariff barriers in the legal regulation of international trade relations

Non-tariff trade barriers in international legal regulation are a component of the system of non-tariff restrictions, the attitude to which in science and practice is ambiguous. The importance of regulating the application of such measures is confirmed by the presence of a number of international and national regulatory legal acts. The purpose of this article was to establish the significance of non-tariff barriers for international trade relations and the prospects for their further application in the conditions of the development of international trade. Taking into account the specifics of the scope of application of non-tariff restrictions, their system is multi-level, since the application of barriers is carried out at the international, national and regional levels. The application of non-tariff barriers in the regulation of international trade relations cannot be assessed unambiguously. The negative consequences of their application include the creation of obstacles in the economy of individual countries; the use of non-tariff restrictions as a means of discrimination; a negative impact on imports in individual countries; volatility and uncertainty; a negative impact on the international economy. The positive impact of non-tariff barriers includes: ensuring the safety of products and production processes; ensuring the competitiveness of certain types of goods; increasing the level of national security; ensuring the protection of life and health of people, animals, flora, and the environment; harmonizing national trade with the international system of trade standards. A promising direction of international activity in this area is the development of a Strategy for the implementation of non-tariff regulation of international trade relations at the WTO level, which will contribute to further integration processes in the development of uniform methods and standards in the regulation of international trade and economic relations, will allow unifying and harmonizing the norms of international trade in the field of application of non-tariff barriers. To achieve this goal, the Strategy should include a number of relevant areas of international trade and economic cooperation at all levels.

Features of Iran’s Integration Efforts in Trade Relations with Russia

The relevance of this research is determined by the growing interest in integration processes in Eurasia and their impact on international trade relations, particularly in the context of the interaction between Russia and Iran. In the face of global economic challenges, Iran’s integration efforts within the framework of the Eurasian Economic Union (EAEU) and the Shanghai Cooperation Organization (SCO) become a significant factor contributing to the development of foreign economic ties. The novelty of the study lies in the application of various econometric methods to the analysis of trade and integration between Iran and Russia.Aim. The purpose of this study is to study the impact of Iran’s integration process into the economies of the EAEU and SCO on the foreign trade relations between Russia and Iran.Tasks. The objectives of the research include calculating the trade complementarity index to assess the mutual complementarity of the trade profiles of Iran, Russia, and their trading partners, analyzing economic data and indicators of EAEU and SCO integration to gain a deeper understanding of Iran’s integration process into the regional economy and its implications for trade between Iran and Russia, as well as developing an econometric trade model to evaluate the influence of various factors, particularly those related to integration, on the trade turnover between Russia and Iran and other countries.Methods. The methods employed include econometric modeling of international trade using a gravity approach, calculating the trade complementarity index, and descriptive statistics.Results and Conclusions. The results demonstrate a low level of trade complementarity between the trade profiles of Russia and Iran, which may indicate a weak potential for trade development. Nevertheless, trade between Russia and Iran is at a low stage of development, and there is significant potential for growth in various areas. Iran’s successful efforts to integrate into the EAEU, the conclusion of a Temporary Agreement leading to the establishment of a free trade zone, and the Free Trade Agreement between the EAEU and Iran have become important incentives for increasing trade turnover and fulfilling existing potential. Econometric calculations show that the conclusion of free trade agreements and preferential trade agreements could lead to a multiple increase in trade turnover between Russia and Iran.

The Role of Private International Law in Resolving Disputes in Global Commerce

The exponential growth of global commerce has amplified the complexity of cross-border disputes, necessitating a robust framework for their resolution. This study explores the role of private international law in addressing such disputes through a qualitative approach, encompassing doctrinal analysis and case studies. By examining the interplay between jurisdictional rules, choice of law principles, and enforcement mechanisms, this research highlights the pivotal role of private international law in ensuring legal certainty and fairness in transnational commercial transactions. The findings demonstrate how private international law harmonizes diverse legal systems, mitigates conflicts of laws, and provides predictable outcomes, which are critical for fostering trust and cooperation among international trade participants. Furthermore, the study investigates contemporary challenges, such as digital commerce and regional trade agreements, and assesses the adaptability of existing legal instruments in resolving disputes in these contexts. The qualitative analysis reveals that while private international law offers substantial tools for dispute resolution, its effectiveness is often contingent upon the political will and cooperative efforts of states, as well as the efficiency of international judicial and arbitration institutions. This study contributes to the ongoing discourse on enhancing the efficacy of private international law to support the evolving needs of global commerce. Recommendations for reform and harmonization are proposed to strengthen its role in resolving future disputes and promoting sustainable international trade relations.

Problems of Legal Assessment of Integrated Environmental Risks of the Silk Road Economic Belt

The Silk Road Economic Belt has played a key role in shaping international trade relations since ancient times until today. In recent years, the particularities of the country’s involvement in the Silk Road Initiative have been exacerbated by environmental concerns and the emergence of legislative disagreements in the aspect of environmental risk management. It is for this reason that the issue of the legal assessment of the integrated environmental risks of the Silk Road Economic Belt remains relevant. Therefore, the purpose of this paper is to investigate and establish the problems of legal assessment of the integrated environmental risks of the Silk Road Economic Belt, using Kazakhstan as an example, and to identify measures to address them. It has been determined that environmental protection in the Silk Road Economic Belt dimension is not legally backed up, and that all provisions, conventions and so on are voluntary in nature. Using the integrative method, it is the compliance with all national environmental legislation, the implementation of the Aarhus Convention provisions, the construction of a specialised information resource in Kazakhstan with current information on Silk Road projects, the development and introduction of legislative changes towards increasing the rates of environmental risk insurance in the country, have been established as the main measures to address the legal assessment of the integrated environmental risks of the Silk Road Economic Belt in Kazakhstan. Thus, the practical significance of the study is that the measures identified to address the problems of legal assessment of the integrated environmental risks of the Silk Road Economic Belt can be used by the Kazakh authorities in the aspect of the ‘One Belt, One Road’ initiative.

Brexsea Trade and Uncertainty: Impact of Brexit on Seafood Exports

ABSTRACTThis paper investigates the effect of the Brexit referendum on Norwegian firms' exports of fresh seafood to the United Kingdom. We exploit the referendum as a quasi‐natural experiment to investigate the effect of an uncertainty shock in trade on export values, volumes, and prices, as well as market entry and exit. First, we find that Norwegian firms experienced an average 2% decrease in total export value resulting from the referendum, suggesting a limited aggregate effect. Second, we examine the role of duration in firm‐to‐firm relationships in response to the shock, finding that more established relationships responded relatively more along the intensive margin to the shock. Third, the market dynamic post‐referendum reveals a nuanced impact; while new market entries were limited, a slight increase in exit probabilities was observed. This reflects a strategic response by Norwegian exporters to the shock, particularly amongst firms with an established export history, indicating a reassessment of market presence. Overall, Norwegian exporters have demonstrated resilience and adaptability, effectively adjusting to the challenges of the Brexit referendum with minimal disruptions while maintaining their international trade relations amidst short‐term uncertainties.

From the Board: The GATTification of the WTO: Regime Change and Thinning Legality in International Trade Relations

From the Board: The GATTification of the WTO: Regime Change and Thinning Legality in International Trade Relations

International commercial arbitration in Ukraine under martial law

It is indicated that International Commercial Arbitration is one of the most effective ways of resolving disputes between participants in international trade, ensuring speed, flexibility and neutrality of the process. However, the activity of arbitration in Ukraine faces a number of new challenges due to the introduction of martial law as a result of large-scale aggression. The hostilities led to significant disruptions to normal economic activity, including making it difficult to enforce contracts, access to justice, and enforce arbitral awards. This raises questions about the ability of arbitration to function effectively in such extraordinary circumstances. The topic is extremely relevant in today’s environment, where Ukraine faces large-scale military aggression that significantly affects all spheres of economic life, including international trade and legal relations between business entities. The article examines the legal and practical aspects of international commercial arbitration during martial law, particularly the impact of military operations on arbitration procedures, the possibility of enforcing arbitral awards, and the problems of their enforcement in a limited legal and economic environment. The main focus is on how arbitration institutions in Ukraine, in particular the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry, are adapting to the new realities. The author also considers the issue of enforceability of arbitral awards in the light of military operations, sanctions, economic restrictions, and challenges for the Ukrainian legal system. The challenges related to the organization of the arbitration process, such as logistical difficulties, limited access to resources and documents, as well as the application of sanctions against the parties to the dispute, are explored. Special emphasis is placed on the possibilities of conducting arbitration hearings in a remote format and the use of modern technologies to ensure the continuity of the process under martial law. The article also examines the prospects for adapting arbitration to the new realities, including the possibility of filing claims for compensation for damages caused by military operations. The study analyses the prospects for the development of international arbitration in Ukraine, including the use of digital technologies, online hearings, and adaptation of the arbitration process to the challenges of wartime. Particular attention is paid to the opportunities for Ukrainian entrepreneurs to protect their rights through arbitration in international disputes, including the issue of compensation for damages caused by military actions.

ANALYSIS OF SELECTED COUNTRIES ACCORDING TO THEIR ENERGY CONSUMPTION BY CLUSTER ANALYSIS K-MEANS METHOD

In this study, countries (Australia, Austria, Azerbaijan, Belgium, Brazil, Bulgaria, Canada, China, Chile, Colombia, Denmark, Egypt, Finland, France, Germany, Greece, Hungary, India, Indonesia, Iran, Iraq, Italy, Japan, Kazakhstan, Luxembourg, Mexico, New Zealand, the Netherlands, Norway, Pakistan, Poland, Portugal, Russia, Spain, Sweden, Switzerland, Thailand, Turiye, the United Kingdom, the United States, and Uzbekistan) were clustered based on their energy consumption for the years 2000 and 2021. In line with the objectives of the study, data on nuclear energy, coal consumption, oil consumption, natural gas consumption, hydropower consumption, and renewable energy consumption were used to represent energy consumption. The clustering analysis revealed differences between countries in the clusters formed between 2000 and 2021. The transition of countries such as Iran, the Netherlands, Mexico, and Luxembourg from Cluster 1 in 2000 to Cluster 2 in 2021 illustrates the complexity of changes in energy consumption patterns. Factors underlying these changes include changes in energy policies, economic conditions, international relations, and technological advances. Similarly, the transition of countries such as Canada, Germany, Italy, Spain, and the United Kingdom from Cluster 2 in 2000 to Cluster 1 in 2021 can be attributed to various factors such as changes in energy policies, economic growth or stagnation, technological progress, shifts in international trade relations, and environmental considerations.

Исламские финансы в современной рыночной экономической системе

The article examines the key differences between Islamic finance and finance in the market econom-ic system. Comparative characteristics of the main instruments of Islamic finance, such as sukuk, takaful, mudaraba, mubarak, musharaka, ijara, etc., including the financial institutions themselves based on sharia, are given. The author reveals the mechanisms of partnership financing in domestic business with the involvement of Islamic financial instruments in the context of growing demand for Islamic financial opportunities. The use of these financial instruments in accordance with the principles of social justice is seen as an opportunity for the expansion of investment resources in the domestic economy. An example thereof is the successful practice of Islamic banking and the use of its financial instruments in such European countries as Great Britain, Switzerland, etc. Since the 1990s, individual Islamic banks and/or Islamic windows have been operating in Russia, and, with the beginning of the experiment in partner financing, an expansion of their activities is expected, espe-cially in the subjects of Russia with a predominantly Muslim population. Since some countries are already focusing on national currencies rather than the dollar in their international trade and eco-nomic relations, the sphere of economic influence of the EAEU, SCO, and even more noticeably of the BRICS countries is expanding. The number of member countries in these economic unions is increasing: Iran, Egypt, the UAE, Ethiopia, India with her multi-million Muslim population, and, in the future, Algeria, Bangladesh, Kuwait, Morocco, Saudi Arabia, Turkey, etc. are ready to join them. Therefore, Islamic banking and other Islamic financial institutions may have prospects in the new conditions of a multipolar global world.

The Role of Geopolitics on Economic Growth in Indonesia

Inclusive and sustainable economic growth is a priority for countries around the world, including Indonesia. Geopolitics plays an important role in creating a legal framework that supports investment, innovation, and environmental protection - key components of sustainable economic growth. This research aims to explore how geopolitics contributes to Indonesia's economic growth, focusing on the development of technologies, regulations, and procedures that support economic sustainability. The research method used is a qualitative approach, with data collection through literature review and policy analysis. This research was conducted by exploring the influence of geopolitics in the context of economic policy, investment, and natural resource management. The results show that Indonesia's strategic location as an archipelago provides advantages in international trade and regional economic relations. In addition, political stability and economic policies influenced by geopolitics play an important role in creating an enabling environment for economic growth. The implication of this research is the importance of strengthening international and bilateral cooperation to capitalize on Indonesia's geographical and political potential to increase economic competitiveness globally and promote sustainable economic growth.

Current trends in world agricultural trade by product: the place and role of Ukraine in the context of its own food security

Methods. The methods used as the methodological basis of the study were: analysis and synthesis - when identifying modern trends in the development of international trade in agricultural products; factor analysis – when identifying factors that stimulate the growth of international trade in agricultural products; generalization – when processing statistical data with the aim of establishing the dynamics of global export and import of grain crops by the largest exporting countries; normative analysis – when formulating recommendations for improving the position of Ukraine on the world market of agricultural products and creating conditions for its food security. Results. Current global trends in the development of international trade in agricultural products were considered, and the main subjects of the global agricultural market are singled out. The place of Ukraine in the world market of agricultural products is determined and the role played by the country in shaping the offer of the specified product is shown. The main problems of Ukraine's food security, which are related to its participation in international trade and economic relations in the agrarian sector of the economy, are singled out. Recommendations were given to strengthen Ukraine's competitive position on the world market of agricultural products and create conditions for its food security. Novelty. The main global trends in the field of international trade in agricultural products were proposed, which is based on a comparative analysis of challenges and opportunities for a country that participates in the international exchange of agricultural products. The weak and strong sides of Ukraine's participation in the international trade of agricultural products have been identified in view of its economic security. New opportunities and challenges for the export of nationally produced agricultural products have been identified. Practical value. The conducted analysis provides an understanding of the state and development trends of the world market of agricultural products, which allows to strengthen the place and role of Ukraine in trade and economic relations with other countries of the world, as well as to create conditions for its food security.

TRANSFORMATION OF THE EU FOREIGN ECONOMIC POLICY IN THE CONTEMPORARY SCIENTIFIC LITERATURE

The study of the EU’s foreign economic policy is one of the key topics in the modern scientific literature due to the EU’s significant influence on the global economic processes. This article analyzes evolution of the relevant research by Russian and foreign authors, including both modern works and publications of the early 2010s, when this topic began to gain relevance in the context of studying international trade relations. Special attention is paid to the issue of transformation of the EU Commission’s foreign economic policy formulation due to the implementation of the 2021 trade policy strategy, aimed at ensuring «strategic autonomy» of the Union. This article reviews existing discussions regarding the definition of this concept, as well as regarding its main instruments. In conclusion, the author identifies key gaps in respective scientific knowledge and presents directions for further study. It is proposed to investigate the ongoing changes using a paradigmatic research method that is based on the 1993 theory by Peter Hall. A deeper understanding of the EU's trade policy changes will allow Russia to more effectively adapt its behavior in the international arena, as well as its interaction with the other global players.

Globalization in a Covid-19 Afflicted World

This paper attempts to assess the impact that the current Covid-19 pandemic can exert on the globalization process. The pandemic crisis, which fully unfolded worldwide in March 2020, had dramatic consequences for the world population, some of which are of economic character. As some of the global value chains and international trade and investment relationships were destabilized or suspended, a legitimate question as to the possible developments of the globalization process arises. We commence with a multidimensional concept of globalization and its critical evaluation. Subsequently, three possible scenarios of pandemic-induced development are identified and explored: disrupted globalization, de-globalization and finally re-balanced globalization. The discussion of these scenarios also includes implications for economic policy.

Diversification of the concept of foreign economic activity of russian banks in the new economic conditions Yulia S. Polozhentseva1

Relevance. Russian banks actively participate in international trade and economic relations. However, taking into account geopolitical and economic changes, such as sanctions and changes in trade blocs, banks need to develop strategies for effective expansion of their activities at the international level. Business planning for the geographical development of foreign trade will help banks to adapt to new market conditions, determine optimal strategies and resources for the development of export-import operations, as well as minimize risks and increase competitiveness on the world stage..The purpose is to conduct a comprehensive study of the possibilities of geographical development of the foreign economic activity of Russian banks..Objectives: analyze regional markets for their potential; to determine the main advantages and disadvantages of the activity of foreign trade of Russian banks; will identify the peculiarities of the bank's exit to the new dawn within the framework of foreign trade, draw up a business plan and determine the criteria for the success of the project.Methodology. In the process of research, general scientific methods of logical and statistical analysis, field research, as well as qualitative and quantitative analysis were used.Results. 10 Russian banks, their foreign trade development strategy and future prospects were considered. The regions in which the opening of a bank branch will be the most successful for foreign trade have been identified: Tatarstan, Primorsky Krai, Kaliningrad Oblast, Yekaterinburg. A business plan for entering a new regional market for a bank with a focus on foreign trade has been drawn up, taking into account industry specifics.Conclusion. The foreign trade development strategy allows banks to expand their client base, increase their global presence and provide their clients with access to international financial services.

The Role of the World Trade Organization (WTO) on the Impact of the China-United States Trade War on International Trade

International trade opens up new, wider markets for domestic products. Products that were originally only limited to the domestic market will have a new market share abroad. The impact of exports and imports has a positive effect on economic growth. Other benefits that can be felt are an increase in state income, foreign exchange reserves, and capital transactions. However, international trade relations do not always go well. China and the United States have been in a trade war since 2018. The two countries used to be in harmony, but because the United States had a deficit in the trade balance, exports to China amounted to US$ 405.7 billion. The United States then issued a policy of protectionism aimed at controlling export-import activities through setting customs and export-import bans, subsidies, quotas, and tariffs. This trade war continues to this day. Even though the two countries have made a Phase I agreement, they do not show that they will make peace. The impact of the China-US trade war does not only affect the two countries. The impact of the trade war is also felt in developing countries. The increase in tariffs carried out by China and the United States resulted in the two countries being unable to enter each other's markets. Thus, the two countries are eyeing other countries as a new market share to distribute their products. Indonesia as a trading partner is the target of the two countries.

Impact of Consumer Preferences on Kosovo’s Foreign Trade

In marketing, consumer behavior is a crucial factor in the placement of products in the market and is often the subject of study and research by large companies to identify the needs of citizens and their behavior as consumers in the buying decision process. Consumer buying behavior refers to the buying behavior of final consumers—individuals and households that buy goods and services for personal consumption (Kotler et al., 1999). A company that truly understands how consumers will respond to different product features, pricing, and advertising appeals has a significant advantage over its competitors. The factors that influence consumer behavior are the key elements that companies analyze and aim to break down in order to "attract" customers. This paper will examine the factors of consumer behavior and their impact on increasing/decreasing imports in trade with several countries with which Kosovo has international trade relations. The phenomenon of ethnocentrism will also be examined, a phenomenon that has emerged in every nation in recent years and is more pronounced in the Republic of Kosovo. Finally, an empirical analysis will be presented, highlighting the relationship between imports and import prices.

“Win-lose” globalization and the weaponization of economic policies by nation-states

PurposeAfter decades of hypergrowth, since the 2008 global financial crisis there has been a deceleration of globalization and a partial jamming of its main engines (trade and foreign direct investment [FDI]). This study aims to critically reflect on the current phase, labeling it as “win-lose globalization” characterized by firm-firm competition increasingly intertwined with that between the respective nation-states, which aim to be the relative winners, even at the expense of joint absolute gains. Acting as “strategists,” states implement policies to weaponize economic interdependences, which the paper analyzes.Design/methodology/approachThe approach is “problem setting” rather than “problem solving.” The latter offers well-defined solutions but often assumes unambiguous definitions of problems, which obscure their complexity. This phase is so intricate that the problem itself is problematic. Thus, to advance knowledge, the focus is given on nation-state policies: FDI screening and the politicization of international trade relations; protectionism; misuses of antitrust and regulation.FindingsThe intensification of firm-firm/state-state competition, seeking disproportionate gains over rivals, is the ultimate result of the contradictions and dissatisfactions accumulated over decades of globalization, the benefits of which have been far from equally distributed. Conflicts in international economic relations are bound to intensify, and a return to win-win globalization is unlikely. International cooperation to strengthen existing/new supranational governance institutions in the interest of absolute global inclusive benefits is urgently needed.Originality/valueThe paper integrates the international business debate on the fate of globalization with interpretations from industrial policy studies and international relations theory. This allows for suggestions for policymakers, corporate executives and scholars.

Needs Analysis for University EFL Learners Majoring in Business English: A Scoping Review of Research and Practice

In the context of international economic integration, Business English (BE) has played an increasingly significant role in business settings because BE is considered as a global communicative means, helping business transactions happen effectively among economies all over the world. In Vietnam, BE has been used more and more in trade transactions because Vietnam’s economy has explosively developed and Vietnam has expanded its international trade relations over the last ten years. The aim of the paper is to analyze and synthesize the needs analysis for EFL learners majoring in Business English globally. The results of the paper help higher education in Vietnam see the importance of needs analysis in ESP, needs analysis approaches, theoretical frameworks including target situation analysis (TSA), present situation analysis (PSA), learning situation analysis (LSA), then evaluate existing materials or coursebooks and adapt to create better universities’ curricula to meet the linguistic requirements in the workplaces in Vietnam.

THE EFFECT OF EXPORT PROMOTION PROGRAM TOWARDS SMALL-MEDIUM ENTERPRISES’ EXPORT PERFORMANCE: A GOVERNANCE PERSPECTIVE

This paper investigates the effectiveness of export promotion programs (i.e., information, experiential, and financial supports) towards small-medium enterprises (SMEs) export performance. The research framework is guided by the Research-Based View. A sample of 116 Malaysian small and medium size exporter firms was tested by using the model. The data were analyzed through a partial least square structural equation modelling approach. Study results show that all three supports in the export promotion program improve SMEs’ export performance with the mediating effect of network role. The findings show that the implication of the impact of export promotion programs on export performance is justified. Besides, it also validates the importance of networking in using support from government agencies. The findings can also help SMEs engage with foreign buyers or trade organizations to profit from trade fairs and trade exhibits, promoting promotion programs on a global scale. Last but not least, government agencies can also strengthen international trade relations and foreign diplomacy for exporters to boost their trade competitiveness.

Needs Analysis for University EFL Learners Majoring in Business English: A Scoping Review of Research and Practice

In the context of international economic integration, Business English (BE) has played an increasingly significant role in business settings because BE is considered as a global communicative means, helping business transactions happen effectively among economies all over the world. In Vietnam, BE has been used more and more in trade transactions because Vietnam’s economy has explosively developed and Vietnam has expanded its international trade relations over the last ten years. The aim of the paper is to analyze and synthesize the needs analysis for EFL learners majoring in Business English globally. The results of the paper help higher education in Vietnam see the importance of needs analysis in ESP, needs analysis approaches, theoretical frameworks including target situation analysis (TSA), present situation analysis (PSA), learning situation analysis (LSA), then evaluate existing materials or coursebooks and adapt to create better universities’ curricula to meet the linguistic requirements in the workplaces in Vietnam.