FINAL EXAMINATION COURSE COURSE CODE EXAMINATION TIME LAW OF INTERNATIONAL TRADE AND FINANCE II LAW589 JUNE 2012 3 HOURS INSTRUCTIONS TO CANDIDATES 1. This question paper consists of seven (7) questions. Answer four (4) questions in the Answer Booklet. Start each answer on a new page. 2. 3. 5. Candidates are allowed to bring into the examination hall the following (unannotated): i) GATT1947 ii) GATT 1994 Do not bring any material into the examination room unless permission is given by the invigilator. Please check to make sure that this examination pack consists of: i) the Question Paper ii) an Answer Booklet - provided by the Faculty DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO This examination paper consists of 3 printed pages Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 2 LW/JUN 2012/LAW589 QUESTION 1 "There will never be global free trade. The fact that WTO and its predecessor GATT, aim at fair, not free trade, is evidence to this. Countries will always seek to protect their own interests, negotiating for what suits them and when it suits them. Thus, true benefits of international trade will never be realised." Discuss your agreement or disagreement with the above statement. Include in your discussion what you consider to be the benefits of free trade, how it can be achieved, and why world trade policies should focus on fair trade. Support your views with relevant examples. (100 marks) QUESTION 2 "The theories of international trade do not offer satisfactory explanations as to why countries do or should trade. Neither do they trade adequately on terms which international trade would be most beneficial to the world's economy. Yet international trade continue to gain importance, growing in volume, value and the number of countries participating." Discuss the above statement, indicating what you consider to be reasons behind the continuous growth of international trade. (100 marks) QUESTION 3 a) Agriculture is a key subject in international trade negotiations. What is the role of market access in this segment? (50 marks) b) There are many levels of WTO members ranging from the United States on one side and Vietnam at the other extreme. What are main features of the Special and Differential treatment in terms of the WTO members' rights and obligations to deal with differences in the development levels? (50 marks) QUESTION 4 a) Trade is linked to the environment. Sometimes environment prevails over trade in WTO dispute settlement cases. Discuss. b) The Doha Round was held up due to the 'Single Undertaking' clause. What do you understand with 'Single Undertaking'? Discuss with reference to the Doha Round of negotiations? (100 marks) Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 3 LW/JUN 2012/LAW589 QUESTION 5 a) Agriculture is a key subject at the Doha Round. Does Agriculture figure in the original GATT 1947 before the Uruguay Round? What are the main issues in Agriculture Trade Negotiations? b) Dispute settlement processes at WTO have failed in deterring the countries from taking measures which violates their own commitment. Discuss. (100 marks) QUESTION 6 "Certain articles in WTO Agreement seem to be in conflict with norms under customary international law." Critically analyse this statement with reference to cases decided from WTO dispute settlement. (100 marks) QUESTION 7 What is the essence of the WTO rules on dumping? Is all dumping to be condemned? How has the use of anti-dumping measures evolved over the years? Does the use of anti- dumping measures make political and/or economic sense? (100 marks) END OF QUESTION PAPER Hak Cipta Universiti Teknologi MARA CONFIDENTIAL