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    Modern globalization toward regionalization; legal perspective
    (Maltepe Üniversitesi, 2016) Alsamhan, Eyad
    There are many global challenges in the world; competitors started competing regardless which market in which state they are. At this point, increased globalization has led to increased industrialization under the rules of World Trade Organization (WTO) especially the rule of the Most-Favored-Nation (MFN). However, GATT Article XXIV brought an exception to the MFN rule to allow forming Regional trade agreements (RTAs) to keep RTAs on track with no enforcement tools to keep RTAs disciplined but with a transparency requirement. As a result, we are witnessing the birth of a number of regional trade agreements (RTAs) each and every year. Evidently, the main ambition is to facilitate trade among contracting parties. A recent expert's report commissioned by the WTO Director General identified the 'spaghetti bowl' as a fundamental threat to the future of the WTO. Currently. about 450 RTAs have been created. Concerning, agreements between the biggest economic giants in the world e.g. EC-Canada one. Governing this mass amount of RTAs requires clear international trade regulations and customs. Nevertheless, due to the fact that RTA law lacks due clearance, this RTAs practice is endangering the globalization in legal perspective. As if the world is getting back to the regionalization. RTAs, per se, are a double edge sword; the preferential treatment amongst RTA members will create more trade among members, and thus divert more trade from third parties. Economists measure RTAs according to whether or not the RTA in question contributes to the expansion of world trade. RTAs may not harm world trade provided that it is not misused. The reason behind RTAs are becoming largely expanding, although they might have a negative impact on international economy, is to secure regional preferences, even regional spheres of influence, in a world marked by growing competition for markets, for investment and for technology. This is more than a theoretical argument: the increasingly complex co-existence of the WTO with spaghetti RTAs suggests that similar problems can arise in the future.
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    WTO dispute settlement system
    (Maltepe Üniversitesi, 2015) Alsamhan, Eyad; Gençal, Talha
    The global rules of trade between nations are controlled by the World Trade Organization (WTO). WTO has been established as the legitimate chiId of the General Agreement on Tariffs and Trade (GATT). It regulates set of rules to ensure open and free trade. lt also includes individual countries commitments to lower consumer tariffs and other trade barriers, to open services markets. Therefore, the WTO covers a multiIateral trading system through agreements between its members.