GMU hosts two-Day intensive workshop on Global Trade, Investment & Law

GANDHINAGAR : Gujarat Maritime University (GMU) recently organised a two-day intensive Workshop on ” Global Trade ,Investment & Law ,” in collaboration with Laboratory for the Study of Public Interest Protection Under Economic Sanctions, HSE University, Moscow.

The workshop aimed at providing participants with a comprehensive understanding of WTO, international trade, Investor State Dispute Settlement, emerging global trends, and the evolving legal landscape governing cross-border commerce.

The workshop was inaugurated by the distinguished keynote speaker Prof. (Dr.) Sheela Rai, Professor, National Law University, Odisha, and Ms Teterina Irina Sergeevna, Representative – Laboratory for the study of Public Interest Protection Under Economic Sanctions (Moscow), in the presence of GMU Provost Prof. (Dr.) S. Shanthakumar and Mr. Abhishek, Dubey, Partner, Trilegal.

In her keynote address, Prof. (Dr.) Sheela Rai offered incisive insights into the challenges posed by unilateral tariff measures, particularly those introduced by the United States. Referring to the recently concluded trade agreement between India and the European Union, she noted that the deal envisions a phased move towards zero tariffs. She cautioned, however, that the complete elimination of tariffs may not always be desirable. Tariffs, she argued, are at least honest and transparent instruments of trade policy. Nations resort to protectionist measures for a variety of legitimate reasons, including the protection of domestic industries and revenue generation. In the absence of tariff options, she warned, countries are likely to rely more heavily on non-tariff barriers, such as quantitative restrictions, which tend to be far opaque. She also emphasized on the serious dangers for such unilateral sanctions on the stability of International trade regime as it specifically transforms trade from a facilitative instrument to a penalty imposition mechanism, which will create an increasing distrust over the stability and predictability of global trade.

Mr. Abhishek Dubey, Partner, Trilegal, observed that the world is increasingly moving away from multilateral frameworks such as the General Agreement on Tariffs and Trade (GATT) towards bilateral treaties and agreements. He highlighted that India’s recently concluded trade agreements with the EU and the United Kingdom are poised to unlock a wide range of opportunities across sectors including significant avenues for legal professionals and trade advisors.

Finally, Ms. Teterina Irina Sergeevna, representative on behalf of Laboratory for the Study of Public Interest Protection Under Economic Sanctions, HSE University, Moscow, made audience aware about the works of the Laboratory stating the the Lab is actively involved in conducting research and teaching on safeguarding Russian interests amid sanctions.

The workshop was well-received by participants and underscored GMU’s commitment to fostering a deeper understanding of global trade and maritime commerce law among students, researchers, and legal professionals.