International Trade And Environment Under WTO And GATT

Soorya. S, Christ (Deemed to be University)

ABSTRACT

Since the Second World War, there has been an unusual level of global economic growth that has accompanied the growth of international trade. Additionally, it has occurred at the same time as a rapid increase in global environmental degradation, including loss of biological species, climate change, increasing air and marine pollution, drought, and deforestation. Earlier in 1970, the relationship between trade and environmental protection was considered to include both the effects of trade on the environment as well as the effects of environmental policy on trade. Early in the 1970s, there was rising concern on a global scale about how economic growth would affect societal advancement and the environment. As a result, the Stockholm Conference on the Human Environment was held in 1972. The GATT Secretariat was required to contribute during the planning stage of the Stockholm Conference. A study titled "Industrial Pollution Control and International Trade" was created on the Secretariat's own initiative. Its emphasis on the effects of environmental protection laws on global commerce reflected the trade officials' concern that these regulations might obstruct trade and amount to a new kind of protectionism. The major objective of this essay is to provide a clear, clear image of the key issues surrounding the effects of global trade on the environment, on the one hand, and the effects of environmental policies and regulations on global trade, on the other. The multilateral environmental agreements (MEAs) that are centred on the application of environmental trade measures are also examined in this article. GATT/WTO is regarded as the most significant international organisation with regulatory authority over the interaction between international trade and the environment. Keywords: Trade and environment, WTO, GATT, sustainable development, multilateral environmental agreements, international trade, trade liberalization