Answer 1
International law refers to the binding set of rules that govern the relationship between different nations in the world. The primary legal categories in which international laws are accepted by most nations include international economic law, international criminal law, international security law, International human rights, Diplomatic law, international environmental law and international humanitarian law. These substantive fields are rooted in the acceptance by the countries where the system is constituted.
International economic law is a primary category of international law that defines how sovereign states conducts themselves in relation to international economic relations. It also encompasses the conduct of private parties who deal in cross-border business and economic transactions. International criminal law is a category that has the mandate of regulating the behaviour of organisations, States and individuals whom operations goes beyond the national boundaries when committing international crimes. The law is practiced through criminal tribunals where the criminals are prosecuted. The international human rights category binds, the nations that are signatories to the law, to respect and upheld the human rights. The law governing human rights is a combination of treaties and decisions made through tribunals and agreements.
The Diplomatic law is another category of international law that regulated the practice of diplomacy and obligations and rights attributable to the state representatives in host countries. The international environmental law is the primary category of international law that regulate the behaviour of nations and international organisations in relation to the environment. International humanitarian law is also referred to as the law of war because it regulate armed conflicts that exist between states and also between informal groups and states. It helps in governing the legal justification of war and conduct during such wars.
Answer 2
Major organisations that are responsible when it comes to promoting standardization among countries are the United Nations Agencies, International Organization for Standardization (ISO), World Trade Organisation, and International Organization of Legal Metrology. The UN enforces its authority through the UN Security Council and International Law Commission (ILC). Through these bodies, it has established two courts namely the International Criminal Court and International Court of Justice. These courts enforce the international humanitarian law and the human rights law.
The United Security Council is the only body that has universal jurisdiction. Another UN agency is the World Trade Organisation which regulates and promotes trade amongst member states. ISO promotes global industrial, proprietary and commercial standards of operations by organisation. It enforces its authority by issuing quality certification codes. International Organization of Legal Metrology helps in promoting and harmonizing the global legal metrology procedures in order to facilitate international trade. It enforces its authority by certifying standard measuring equipment and procedures.
Answer 3
Trading partners bound by different laws are bound to face a number of challenges that affect the efficiency in transaction. One of the issue that they might face is the existence of different taxation regimes. The trading partners might not have the advantage of benefiting from treaties like most favoured nations and double taxation treaties. Absence of these treaties depreciates and affects the efficiency in cross-border trading. Another issue is the infringement of intellectual property rights which include patents, copyright and trademarks; inconsistent investigations that are meant to provide a remedy for foreign trade, distortive trade subsidies and unfair competition from the traded imports.
Other major issues that trading partners faces are trade barriers and tariffs that diminish the benefits of international trade. Market and currency fluctuations and global financial crisis are other issues that trading partners face since they alter the efficiency of cross-border transactions. These issues need to be approached in an analytical way in order to solve them and promote efficiency in international trade.
References
Singh, S. (2012). What are the Problems or difficulties in international trade? . Retrieved from Preserve Articles: http://www.preservearticles.com/2012022923898/what-are-the-problems-or-difficulties-in-international-trade.html
UN. (2013). International law. Retrieved from United Nations: http://www.un.org/en/globalissues/internationallaw/
WTO. (2013). Principles of the trading system. Retrieved from World Trade Organisation: http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact2_e.html
