International Conflict of State Jurisdiction and Mutilateral System of Cordination

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Global economic activities of corporations and professionals are regulated both by domestic rules of national legislation and international law. On the one hand, vast aspects of international trade are now regulated by the WTO/GATT system. On the other, important fields like export control or related field of anti-trust are still regulated by domestic rules in many countries. One notable example of the domestic regulation is by way of extraterritorial application of trade and antitrust-laws. The United States practice in this respect has been criticized on many occations, the most recent of example is its export control legislation against Cuba.One field which has traditionally been deemed outside the reach of international law in the sense of multilateral agreement is economic activities of foreign nationals including foreign corporations. The various economic rights of foreign nationals within one state have often been the scope of bilateral friendship, commerce and navigation treaties. Rules with respect to investment, i.e.Multilateral Agreement on Investment (MAI), are now being negotiated under the OECD.As suggested above, any aspects of international economic activities which were regarded as under the internal and often exclusive jurisdiction of a state has come under the rule of international law. The fact that the United States Congress, a longtime skeptic of international economic organizations, at last gave its approval to the WTO,with some safeguard legislation intended for the protection of congressional power, shows the trend toward the international coordination of national jurisdictions by international agreement.