How does international law address issues related to antitrust and competition?

International law addresses issues related to antitrust and competition in a variety of ways. At the core of international antitrust and competition law is the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), which sets rules and standards for the protection of intellectual property rights in international trade. This agreement allows countries to develop their own laws and regulations to protect and promote competition, as well as enact penalties against companies that attempt to create monopolies or engage in anticompetitive behaviour. The United Nations Commission on International Trade Law (UNCITRAL) also works to promote fair competition and reduce anticompetitive practices by setting standards that apply to international business transactions and aim to prevent restrictive business practices in different countries. In addition, WTO dispute resolution systems, such as the Dispute Settlement Body (DSB), are designed to investigate and resolve of disputes between member states in the area of international trade policy. When two members disagree on a particular issue, they may turn to the WTO for mediation and use the dispute resolution process to come to an agreement. For example, if a country feels that another is operating under unfair trade practices, such as imposing tariffs on imports from another country to create an unfair trade advantage, it can take the matter to the WTO and file a dispute with the DSB. The dispute will then be heard by an Arbitral Tribunal, and the DSB will make a decision on the matter. In summary, international law provides a number of mechanisms for countries to address issues related to antitrust and competition. These mechanisms help to ensure that the global economy remains competitive and free from anti-competitive practices.

How does international law address issues related to antitrust and competition?

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