The justifications and legal framework for liberalising intra-OIC trade

Ahamat, Haniff (2009) The justifications and legal framework for liberalising intra-OIC trade. Journal of Economic Cooperation and Development, 30 (4). pp. 1-27. ISSN 1308-7800

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Abstract

This paper examines the justifications and legal framework for the liberalisation of intra-OIC trade. Before these factors are examined, this paper finds that intra-OIC trade is still low in volume and in proportion if compared to other trade systems. Intra-OIC trade is also concentrated in few OIC Member States and in certain types of products. These findings inform the discussions on the justifications of intra-OIC trade liberalisation and this paper finds that due to the economic conditions prevailing in most OIC Member States it is highly likely that such liberalisation results in trade diversion. Thus shallow integration was preferred by economists so that the OIC 'region' will still be open to flows of goods to and from non-OIC countries. This paper finds that the legal framework for intra-OIC trade liberalisation i.e. the TPS-OIC regime operates according to these principles despite its poor enforcement. However, this paper also finds that there are wider considerations that may require the TPS-OIC regime to balance between minimising the chance of trade diversion and improving the unfavourable economic and trade structures that prevail in most OIC Member States.

Item Type:	Article (Journal)
Additional Information:	3742/14977
Uncontrolled Keywords:	intra-OIC trade, Organization of the Islamic Conference, OIC
Subjects:	H Social Sciences > HF Commerce > HF1014 Balance of trade K Law > K Law (General)
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Ahmad Ibrahim Kulliyyah of Laws > Department of Civil Law
Depositing User:	Mrs Yusrina Abu Bakar
Date Deposited:	13 Jan 2012 15:02
Last Modified:	28 Jan 2012 13:57
URI:	http://irep.iium.edu.my/id/eprint/14977

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