The Principle of Transparency in International Economic Law: Foundations, Manifestations, and Interpretive Role

Abstract

Background and Objective:‌ Transparency, as a fundamental principle of economic governance, has assumed an increasingly prominent role in international economic law over recent decades. Nevertheless, the fragmented nature of transparency-related provisions across international legal instruments, together with continuing disagreement over its legal status, remains a significant challenge. The central issue is whether transparency extends beyond a formal obligation to disclose and provide access to information and may instead be recognized as an autonomous legal principle and an interpretive standard within international economic law. This study therefore examines the legal foundations and manifestations of the principle of transparency, as well as its interpretive role in international economic law.

Method: This qualitative study adopts a legal content analysis methodology combined with an interpretive approach. Purposive sampling was employed, and the data were collected through library-based and documentary research drawing on scholarly literature, treaties, agreements, and other relevant legal instruments. The collected materials were subjected to qualitative analysis to identify and elucidate the legal components and dimensions of transparency. In this process, legal theories and the views of legal scholars were employed to analyze the nature, legal status, and interpretive function of transparency within international economic law.

Findings: The findings demonstrate that transparency extends beyond a merely informational function and plays a significant role in reducing transaction costs, preventing corruption, protecting legitimate expectations, facilitating investment, ensuring fair and equitable treatment, and promoting consistency in the interpretation of international economic law. At the same time, the effective implementation of transparency continues to encounter challenges, including the protection of commercial confidentiality, national security considerations, disparities in the institutional capacities of states, and the absence of harmonized enforcement mechanisms.

Conclusion: The study concludes that transparency should be understood not merely as a formal obligation but as a fundamental principle and interpretive standard of international economic law. Strengthening the principle of transparency can contribute to greater efficiency, legitimacy, and coherence in the international economic system.