Promoting Global Trade Through Air and Maritime Transport – Some Recent Transformational ICAO and IMO Plans

Ruwantissa Abeyratne

Estey Centre Journal of International Law and Trade Policy, 2024, vol. 25, issue 2

Abstract: Air and maritime transport constitute foundational pillars in advancing international trade, providing mechanisms for efficient and extensive movement of goods, linking remote markets, and bolstering economic interdependence among nations. Air transport is indispensable for the expeditious carriage of high-value, time-sensitive commodities, such as pharmaceuticals, electronics, and perishable goods. By reaching geographically isolated regions, air transport serves industries with stringent delivery timelines, meeting essential market demands. Conversely, maritime transport underpins global trade due to its economic advantage in transporting bulk and containerized cargo. Accounting for over 80 percent of global trade volume, maritime operations encompass the movement of diverse commodities, from raw materials like oil and coal to finished goods and agricultural produce. This dual facilitation of cost reduction in transport and expansion of market access allows countries to capitalize on their comparative advantages, fueling economic growth and connectivity. ICAO’s principal function is to harmonize international aviation standards, encompassing safety, security, and environmental regulations to ensure equitable and efficient air transport operations. Similarly, IMO performs a critical regulatory function in the maritime sector, focusing on maritime safety, environmental preservation, and fair-trade conduct on navigable waters. It implements and enforces international standards governing vessel operations, addressing maritime pollution prevention and safe navigation channels. In both Organizations, their Secretariats play a crucial and important role in recommending policy to their governing bodies that would enhance the advancement of international trade through transportation. This article inquires into the effectiveness of the transformation plans of ICAO and IMO to this end.

Keywords: International; Relations/Trade (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ecjilt:348822

DOI: 10.22004/ag.econ.348822

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