Explain what the WTO is, its purpose and how matters can be resolved with the assistance of WTO Dispute Settlement Body.
1) Explain what the WTO is, its purpose and how matters can be resolved with the assistance of WTO Dispute Settlement Body.
2) What procedures are available to resolve your dispute?
3) What do you foresee happening in resolution of the conflict with your neighboring country?
The purpose of the WTO is to ensure that trade flows as smoothly, predictably, and freely as possible. It accomplishes this by setting and enforcing rules for international trade, providing a platform for negotiation and cooperation among member countries, and resolving trade disputes between member countries through its dispute settlement system.
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The panel will review the evidence and arguments presented by both sides and issue a report with its findings and recommendations. If either party disagrees with the panel’s findings, they can appeal the decision to the WTO’s Appellate Body. The Appellate Body will review the panel’s report and issue a final decision.
If the Appellate Body upholds the panel’s findings, the losing country is expected to bring its trade practices into compliance with WTO rules. If it fails to do so, the winning country may be authorized to impose trade sanctions against the losing country until it comes into compliance.
Overall, the WTO’s dispute settlement system is designed to encourage member countries to resolve trade disputes through negotiation and consultation, but also provides a robust mechanism for resolving disputes when necessary to ensure that WTO rules are followed and free trade is maintained.