Common Contracts
1 similar Trade Agreements contracts
Multilateral and Bilateral Trade AgreementsTrade Agreements • November 17th, 2023
Common interest or community interest is a term that is frequently used in contemporary international law. Undoubtedly, there is a shift from the traditional international law concept of co-existence to cooperation. Due to a shared interest in other areas of inter-state relations and concerns, like eradication of poverty, and development, common interest has become a central focus. As a result, the international trading regime, which was integrated into the World Trade Organization, has gone beyond reciprocity to addressing issues of development in less developed countries. It is believed that common interest is addressed by two principles in the World Trade Organization—reciprocity and special and differential treatment. Common interest is also addressed in bilateral agreements, for example, the Economic Partnership Agreement between the EU and countries in Africa. It is maintained that reciprocity correlates with a common interest in the context of ensuring mutual benefits to all WTO
