ABSTRACT
The modern development is that the distinction between public and private international trade law has less meaning. We assume, for example, that a World Trade Organisation (WTO) agreement is public, but immediately it translates into private issues such as tariffs, dumping and taxes. Even in former times, the division did not reflect the reality of the situation as it masked governments’ involvement, and governments used the doctrine of sovereign immunity to protect their trading position. Take, for example, the East India Company, the world’s first multinational, which was founded by the Royal Charter of Elizabeth I in 1600.
