Kulovesi, Kati --- "International trade: Natural resources and the World Trade Organization" [2016] ELECD 1334; in Morgera, Elisa; Kulovesi, Kati (eds), "Research Handbook on International Law and Natural Resources" (Edward Elgar Publishing, 2016) 46

Book Title: Research Handbook on International Law and Natural Resources

Editor(s): Morgera, Elisa; Kulovesi, Kati

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781783478323

Section: Chapter 3

Section Title: International trade: Natural resources and the World Trade Organization

Author(s): Kulovesi, Kati

Number of pages: 20

Abstract/Description:

Playing an important role in the global economy, natural resources are essential for the production of various goods and services. These include both non-renewable natural resources, such as oil, gas and minerals, as well as renewable natural resources, such as forests, fisheries and other biological resources. Overall, trade in natural resources accounts for approximately one-fourth of global merchandise trade. However, various natural resources are threatened by depletion resulting from their unsustainable use as global economic and population growth are increasing demand and trade flows. Additional threats to renewable natural resources include climate change, biodiversity loss and other environmental crises. As illustrated in several chapters of this book, countries are taking various measures to conserve and manage natural resources, either at their own initiative or to implement obligations and recommendations under international law. This chapter demonstrates that international trade law also plays an important role in the international regulation of natural resources and may narrow down the choice of measures available for countries to manage natural resources, for example, by restricting their imports or exports. In addition to World Trade Organization (WTO) law, which applies to the Organization’s 163 members, hundreds of bilateral and regional free trade agreements are also increasingly relevant. While such agreements mostly focus on trade and economic relations, some of the recent ones include provisions on environmental protection and prudent use of certain natural resources, such as timber and fish.