Competition and Investment: The Case for 21st Century WTO Law

Abstract

This chapter expounds on the close relationship of trade regulation, competition and investment law. Taking stock of current linkages, it argues in favour of integrating the three areas within the law of the World Trade Organization (WTO) and thus returning to conceptual foundations laid out the Havana Charter at the outset of the Post World War II international economic order but ever since forgotten in a history of fragmentation. Future integration of the three areas is argued on the factual basis of global value chains, predominant trade in components and thus an increasing need to address what are called behind-the-border issues calling for enhanced common and approximated rules in international economic law. Accordingly, the chapter also argues in favour of an integrated system of dispute settlement within the WTO for trade, investment and competition based upon rules which could be modelled after the approach of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), setting out standards which members are obliged to implement in domestic law.