Is there any Law that protected 3rd world countries from having bad deals with developed countries in Countertrade? like trading Oil/Nautral Resources for simple food etc.. that won’t give them that good for their econemy.

Is there any Law that protected 3rd world countries from having bad deals with developed countries in Countertrade? like trading Oil/Nautral Resources for simple food etc.. that won’t give them that good for their econemy.

 

Solution

There is no such law and act passed in any international forum or countertrade is not any formal agreement under any international convention. WTO has mandated that counter trade is not acceptable because it constitutes a distortion of the free trade process.Countertrade cannot be

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