Liberalization of World Trade Agreements and their Impact on the Legal System of International Contracts
In the contemporary period, international trade is based on two ideas: the first is that the market transcends country boundaries and thus can build a spontaneous law and supranational legal rules; the second concerns the State, which has no jurisdiction to impose its legal system on commercial relations.
So there is a phenomenon of legal pluralism, a state of legal order and as a spontaneous supranational legal order, which finds its source in commercial practices, arbitrations, and model contracts.
Globalization of trade has provided very important interests of economic operators, alos, it threatens the sovereignty of the State and its existence. For this reason, the State also tends to assert imperative regulatory policy, which limits the freedom of contract and threatens the freedom to choose the law applicable to international contracts
Al-Haj, Bin Ahmed,
"Liberalization of World Trade Agreements and their Impact on the Legal System of International Contracts,"
UAEU Law Journal: Vol. 2016:
68, Article 5.
Available at: https://scholarworks.uaeu.ac.ae/sharia_and_law/vol2016/iss68/5