Legal Challenges of Economic Convergence in International Trade Law with Emphasis on European Union and European Free Trade Association (EFTA)

State tendency to establish reginal economic unions beside some major international organization which are based on economic and political reasons, either at the time of commencement and during activity are facing with legal berries. Globalization in addition to political aspects comprises legal issues such as unification of legal rules. Some international organizations like UNCITRAL, UNIDRIOT seek to reduce legal systems differences. But , in addition to this, other issues like the principle of sovereignty of states, parallel judicial proceeding on trade disputes, exception of foreign decisions and awards enforcement and development of internal court’s jurisdiction hinder economic convergence. In this article these factors will be examine in the context of European Union and European Free Trade Association (EFTA) trade system.