International Trade Law and Its Impact on Global Economic Development

Abstract

The legal framework that governs the importation and exportation of commodities and services across international borders is known as international commerce law. Through the facilitation of trade liberalization, the resolution of disputes, and the guarantee of fair competition, it takes on a significant role in the formation of the global economy. The purpose of this article is to investigate the influence that international trade law has on the development of the global economy, with a particular focus on the contribution that it makes to economic growth, the reduction of poverty, and the incorporation of emerging nations into the global market. The article evaluates the efficacy of international trade law in fostering equitable development by conducting an examination of trade agreements, dispute resolution procedures, and the function of the World Trade Organization (WTO). Additionally, the paper examines the obstacles that are associated with this domain.