The so-called “culture and trade debate” is commonly understood to focus on the nature of the mutual relationship between the objectives of international trade liberalization and market integration on the one hand and the objectives related to the protection and promotion of cultural diversity on the other hand. Historically, this debate has been strongly influenced by the assumption of the difference and even mutual incompatibility between culture and trade, which gave rise not only to their separate regulation but also to a paradox. Today, this culture and trade paradox is widely reflected in the regulation of trade affairs by the World Trade Organization (WTO), on the one hand, and of cultural affairs by the United Nations Educational, Scientific and Cultural Organization (UNESCO), on the other. This regulatory condition increasingly clashes with the past trend of different industrial sectors, combining both cultural and economic aspects, based on important technological innovations to emerge and to converge. This trend has been captured, first by the concept of the cultural industries and their later evolution into the one of “creative industries”, which are now widely recognised as the cornerstone of a global creative economy. Against the backdrop of such emerging creative economy, this chapter addresses the so-called “culture and trade paradox” based on the relation between the principal theories of international trade, notably the comparative advantage theory, and the formulated objectives to be realized by it in an emerging global creative economy. By casting light on and trying to resolve the paradox, it aspires to pave the way for an enhanced and more coherent consideration of cultural and trade aspects in the future of economic law and policy making.