ABSTRACT
The term ‘international economic law’ has come into use over several decades, and it has been queried whether there are legal principles that apply across different areas of economic life. International law regulates the establishment of foreign businesses on the territory of other States, on the one hand, and of transactions between State territories concerning goods, services and capital, on the other. International trade law is based upon international reflecting the commercial principle of reciprocal exchange of benefits and advantages. General international law does not contain any obligation on States to open up for trade, transit or traffic. There is no definition of free trade under general international law. Freedom of trade certainly includes access to market, goods and merchandise. Freedom of trade, so broadly conceived, has far-reaching implications, for Any act which would impede that “freedom” is thereby prohibited.
