The document discusses a workshop focused on developing the concept of a "Declaration of the Rights of Future Trade." The workshop agenda involves introductions, a discussion of what sustainable trade means, and a focus on why considering the rights of future trade is important given environmental and social challenges. Groups then discuss and provide feedback on the idea of such a declaration, including whether it has value and how its principles could be improved or expanded. While existing laws cover some related concepts, the document considers whether a formal declaration specifically addressing intergenerational rights is worthwhile.

1. 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

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

3. 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?

4. 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

5. 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.

6. 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

7. 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

8. 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

9. A Declaration of the
Rights of Future
Trade

10. 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

11. 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

12. Group Discussion

13. 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

14. Group feedback
& discussion

15. 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

16. Further resources and inspiration
http://www.terrafiniti.com/towards-9-billion-books/
joss@terrafiniti.com
www.terrafiniti.com