Public Law Studies Quarterly

The Position of Principle of Transparency in International Economic Law

Document Type : Article

Authors

sayyed Ghasem zamani 1
Mohammad Shamsaei 2
Seyyed Ali Hosseiniazad 3

1 Professor at Faculty of Law and Political Science, Allameh Tabataba’i University, Tehran, Iran

2 Former assistant professor at Faculty of Law and Political Science, Allameh Tabataba’i University, Tehran, Iran

3 Ph.D. Student in International Law at Faculty of Law and Political Science, Allameh Tabataba’i University, Tehran, Iran

https://doi.org/10.22059/jplsq.2020.294951.2283
Abstract
Transparency in international law refers to the accessibility of information about decisions and actions of the parties involved in international economic relations. In spite of existence of principle in various aspects of international economic law, its nature and content remains ambiguous. So, the question is whether transparency can be regarded as a binding legal principle. The present article through a descriptive-analytic study shows that transparency as a legal principle is a fundamental principles of international economic law that can be seen in state practices and international case laws. It also has all features listed for a legal principle. Thus, this concept can be recognized as an obligatory principle in various areas of international economic law, such as international investment law, international trade law, international monetary and financial law, and International commercial law. But, it should be considered that positivist approach to international law appears as an obstacle to implement and exercise of the principle in all detailed sub-division of above-mentioned areas.

Keywords

Principles of transparency
Rule of law
International economic law
International monetary and financial law
  1. فارسی

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  1. انگلیسی
  2. A) Books
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  7. Ghamami, Majid & Mohseni, Hassan (2013), “About Some Innovations and Weaknesses of Principles of Transnational of Civil Procedure”, Private Law Studies Quarterly, Vol. 43, Issue 2, pp. 39-58 (In Persian).
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  1. C) Documents
  2. Code of Good Practices on Transparency in Monetary and Financial Policies: Declaration of Principles, September 26, 1999
  3. Council of the International Bar Association, IBA Guidelines on Conflicts of Interest in International Arbitration, 2004
  4. Directive 2005/29/EC of the European Parliament and of the Council of 11 May 2005 concerning unfair business-to-consumer commercial practices in the internal market
  5. G20, ‘Declaration of the Summit on Financial Markets and the World Economy’, 15 November 2008, Washington, DC, para. 9. Available at: https://georgewbush-whitehouse.archives.gov/news/releases/2008/11/20081115-1.html (last visited on: 19/12/2019)
  6. IMF factsheet, Transparency in Monetary and Financial Policies, September 2015, available at: https://www.imf.org/external/np/exr/facts/mtransp.htm (last visited on: 19/12/2019)
  7. IMF, How Does the IMF Encourage Greater Fiscal Transparency?, March 13, 2019, an online article available at official website of IMF: https://www.imf.org/en/About/Factsheets/Sheets/2016/07/27/15/46/Encouraging-Greater-Fiscal-Transparency (last visited on: 18/12/2019)
  8. the communication, COM (2016) 50, of the Commission on an action plan for strengthening the fight against terrorist financing, p. 10, available at: http://ec.europa.eu/transparency/regdoc/rep/1/2016/EN/1-2016-50-EN-1-1.PDF. (last visited on: 22/12/2019)

 

  1. D) ICSID Cases
  2. Azurix Corp. v. Argentine Republic (ICSID Case No. ARB/01/12), Award (July 14, 2006)
  3. Metalclad Corporation v. United Mexican States (ICSID Case No. ARB(AF)/97/1), Award of August 30, 2000
  4. Suez, Sociedad General de Aguas de Barcelona S.A. and Vivendi Universal S.A v. Argentine Republic (ICSID Case No. ARB/03/19), Order in Response to a Petition for Transparency and Participation as Amicus Curiae, (May 19, 2005).
Public Law Studies Quarterly
Volume 54, Issue 1
Spring 2024
Spring 2024
Pages 75-96

  • Receive Date 29 December 2019
  • Revise Date 04 February 2020
  • Accept Date 17 February 2020

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