Some lawyers are calling this the "golden age of international trade law." Both public and private-sector lawyers are comparing trade law's growth to burgeoning practice areas such as aboriginal and constitutional law, which are admittedly somewhat further along the curve.
The spread of globalization means increased engagement with other countries' laws, including trade laws. As other countries' laws become more important to business, they become more important to law firms. "Trade laws are sliding their way up the ladder when conglomerates try to figure out what's best for the whole entity," says Darrel Pearson of Bennett Jones LLP in Toronto. "They're right up there with other important issues like the environment, government intervention and the cost of transportation."
All this doesn't even take into account the growing ubiquity of sanctions and export controls, which have become an increasing concern to companies doing international business. And trade lawyers say that's not going to change any time soon.
Lexpert contributor Julius Melnitzer reports on the growth of international trade law at www.lexpert.ca/globe.
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