By Gayatri Jagtap Prn 18010167003

FUNDAMENTAL PRINCIPLES OF INTERNATIONAL ECONOMIC LAW

BY GAYATRI JAGTAP PRN 18010167003.

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1. Economic Sovereignty 2. Permanent sovereignty over natural resources 3. Territorial Integrity 4. Respect For Human Rights. 5. Promotion Of International Social Justice 6. Preferential Treatment To Developing And

Least Developed Counties

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Economic Sovereignty • It is one of the critical components of national independence. • It is the ability of nation to exercise sovereignty over their economic resources. • Concessions were foreclosed to effective sovereignty.

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Respect For Human Rights • International economic law seek to achieve similar outcomes ,namely the protection of certain rights so as to promote human flourishing. • International Economic Law focuses on the rights of privileged few, namely foreign traders and investors, which may lead to the inevitable prioritisation of their rights.

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Permanent sovereignty over Natural Resources • In 1962,UN passed a resolution in the general assembly that called for the rights of peoples to exercise permanent sovereignty in their natural resources. • The 1962 resolution received unanimous support in the UN General assembly.

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Territorial integrity • It is the principle that prohibits states from use of force against the Territorial integrity or political independence of another state. • It is a political term, has been recognized as customary international law. • Post world war II strict application of territorial integrity has given rise to number of problems.

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Promotion Of International Social Justice • Social Justice is an underlying principle for peaceful and prosperous coexistence within and among nations. • Social Justice For all is at core of our global mission to promote development and human dignity. • Social Justice results in socio-economic benefits.

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Preferential Treatment To Developing And Least Developed Countries • The WTO Agreements contain special provisions which give Developing countries special rights. • Which includes longer time periods for implementing agreements and commitments or measures to increase trading opportunities for developing countries. • Provisions requiring all WTO members to safeguard the trade interests of developing and least developed countries.

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Thank you

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