‘An international business requires compliance with import and export controls which in most cases determine whether the transborder transaction is even financially viable. In addition, parties should educate themselves about international standards that seek to monitor and/or regulate trade in the products they import or export.’

Your Task: Evaluate the accuracy and importance of the above statement in International Business Transactions by addressing the following:
1. What legal and procedural considerations need to be taken into account when making a decision to import goods into Australia? Identify the contrasting concerns that dominate the rationale for regulation of imports. (10 Marks)

2. Examine the way in which trade remedies play an important role in restricting imports. How are they ‘disciplined’ under WTO agreements? (10 Marks)

3. To what extent do you think the Australian regulatory approach to exporting may (or may not) affect companies’ ability to export? How do GATT, SPS and TBT agreements attempt to regulate non-tariff barriers to trade? (10 Marks)

4. Provide a critical analysis of the role of the Appellate Body in dealing with ‘public morals’ in the US-Gambling DS285 under the WTO dispute settlement system. Does this decision provide adequate incentives for the Member States to invoke the system? Support your argument by relying on scholarly resources. (25 Marks)

Sound organisation of the paper (5 Marks):
• Introduction (2 Marks)
• Conclusion (2 Marks)
• Proper referencing and acknowledgement of sources (1 Mark)

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