“One of the main objectives of the multilateral trading system is to eliminate discrimination in international trade relations.” To achieve this goal, WTO members must treat the products and services of all other WTO members in the same way (through the treatment of the most favoured nation or the MFN). On the other hand, bilateral and multilateral trade agreements – preferential trade agreements (ATPs) – followed trade liberalization through this kind of discrimination. The parties to a PEZ liberalize trade exclusively among themselves and create a network of special preferences within the EPZs, which are not available to other WTO members. That is why the PTAs will precisely solidify the discrimination that WTO rules aim to eliminate. MARTIN KHOR is director of the world`s third network. The Cambridge University-trained economist is the author of several books and articles on trade, development and environmental issues. David Davis: Trade agreement. Tax cuts. And take the time before triggering Article 50.

A Brexit economic strategy for Britain: www.conservativehome.com/platform/2016/07/david-davis-trade-deals-tax-cuts-and-taking-time-before-triggering-article-50-a-brexit-economic-strategy-for-britain.html sovereign states coexist in terms of `sovereign equality`. The elements of sovereign equality of states are enumerated in the United Nations Declaration on Friendly Relations: “All States enjoy sovereign equality. They have equal rights and duties and are equal members of the international community, regardless of economic, social, political or other aspects. Sovereign equality includes: (a) states are equal in law; (b) each state enjoys the inherent rights of full sovereignty; (c) Each state has a duty to respect the personality of other states; (d) The territorial integrity and political independence of the state are unlivable; (e) each state has the right to freely choose and develop its political, social, economic and cultural systems; (f) Each state has a duty to fully and in good faith fulfill its international obligations and to live in peace with other states.” State sovereignty has never been considered absolute. It is part of an international legal order that governs the interests of sovereign entities or the interests of the international community as a whole and imposes obligations that extend to the internal domain of States. The consensual elements of the usual rules and treaties associate the definition of international obligations with respect to state sovereignty.