The Rights of Future

Trade – how might we

drive equitable,

sustainable enterprise?

Joss Tantram,

Partner, Terrafiniti LLP

Knowledge Group on Trade, Debt and

Finance, Shearman & Sterling LLP. 19th

January 2017

http://www.terrafiniti.com/towards-9-billion-books/

A session to focus upon the

rights and abilities of individuals

and entities to partake in

enterprising activity over the

long term.

Should there be a Declaration of

the Rights of Future Trade?

What’s it all about?

Introduction - workshop agenda

18.05 Workshop introduction

Icebreaker

What is the focus and why?

18.35 Group discussion

A Declaration of the Rights of Future

Trade

Group discussion

19.15 Group feedback & plenary discussion

Group outputs

Next steps?

19.30 END – NETWORKING DRINKS

Introductions and icebreaker

In groups:

Introduce yourselves to the rest

of your group.

Discuss what Sustainable Trade

means for each of you.

Start to identify SINGLE words

that express this meaning, they

could reflect:

Your hopes, fears or

concern

Your scepticism

Its literal meaning for you

As a group, decide on one word.

The Rights of Future Trade – what is the

focus and why?

The right to trade is comprehensively

represented and defended.

The World Trade Organisation

influences and shapes the economic

and enterprise policies of its signatory

countries which represent the vast

majority of the Earth’s population.

Laws governing the conduct of policy

and practice in enterprise and

competition could be said to be the

most comprehensively and consistently

enforced regulations on the planet.

Introduction - session focus

The Rights of Future Trade – what is the

focus and why?

These structures and protections imply

that the rights of enterprise, private trade

and market activity are important and

worth protecting.

However, given the environmental and

social challenges of the next few

decades, how likely is it that such rights

can be protected in the future?

Therefore, does ‘Business as usual’

represent a threat to potential future

economic value creation and could it

therefore be considered a restraint of

future trade?

Introduction - session focus

The Rights of Future Trade – what is the

focus and why?

In competition law a restraint of trade

tends to focus upon the objectives of

protecting the interests of consumers

(consumer welfare) and ensuring that

entrepreneurs have an opportunity to

compete in the market economy.

If the future opportunities for enterprise

and trade are likely to be limited

significantly do we need to start thinking

about developing the notions of restraint

of future trade and the rights of future

trade?

Introduction - session focus

A Declaration of the

Rights of Future

Trade

What is unsustainable trade?

The utilisation of scarce resource(s) in such a way that will

prevent their long term availability, use and utility.

Utilising a technology or occupying a market which gives rise

to systemic ecological, social or economic risk likely to result

in significant disruption or collapse.

Activity which directly or indirectly inhibits access to markets

by others or diminishes the capability of others to become

economically active.

Failure to balance reliance upon social capital/societal

infrastructure with reinvestment, tax and usage payments.

Gaining ownership or subsidy from common-wealth for

private profit without maintaining or creating new common-

wealth.

A Declaration of the Rights of Future Trade

Current activities should not compromise

the ability and capacity to trade for future

generations.

1. Just as commercial entities have a right

to trade now, they should also have the

right to trade over future generations.

2. Just as people wish to earn money for

themselves and their families now, they

should also have the right to trade over

future generations.

3. Individuals should have the right to be

equitably rewarded for the trade of their

time and capabilities in the employ of

others now and over future

generations.

A Declaration of the Rights of Future Trade

Group Discussion

In groups of 4 or 5:

Discuss either the idea of a Declaration as a whole or focus

upon specific articles within our proposed declaration, and:

The Declaration as a whole:

Is there actual or symbolic value in developing and promoting

the idea of a Declaration of the Rights of Future Trade – and

how could this idea be developed and supported?

For specific articles within the Declaration:

Are these rights reflected already in any aspect of competition

law or international trade law?

How might you evolve the focus or wording of our principles to

be more meaningful or effective?

What else? What have we missed and how could it be

expressed?

Group discussion - process

Group feedback

& discussion

Thoughts and next steps?

Is Article 23 of the Universal Declaration of Human

Rights already enough…“Everyone has the right to

work, to free choice of employment, to just and

favourable conditions of work and to protection

against unemployment”?

Would anyone like to contribute to further developing

a Declaration on the Rights of Future Trade?

Is it a concept that would have value in the

development of sustainable international trade law?

Is it a concept that would have value in the context of

the rights of future generations?

Feedback & discussion

Further resources and inspiration

http://www.terrafiniti.com/towards-9-billion-books/

joss@terrafiniti.com

www.terrafiniti.com