New Delhi, Agency. Industry and Commerce Minister Piyush Goyal will attend the G-20 trade ministers’ meeting in Bali, Indonesia on September 21 to discuss dispute resolution reforms of the World Trade Organization (WTO). Goyal will be in Bali to attend the G20 ministerial meeting on trade, investment and industry on September 21, an official said. During this, he will also attend a meeting called by the US Trade Representative.
Meeting to discuss issues related to dispute settlement mechanism
“Apart from the ministerial meeting, US Trade Representative Catherine Tai has called a meeting to discuss issues related to the dispute settlement mechanism of the WTO,” the official said. During this discussion, demands from the G-20 countries are expected to be raised for the smooth functioning of the dispute settlement system.
unhappiness in many countries
Unhappiness is being seen in many countries about America’s stand in this regard. The Geneva-based WTO is a 164-member multinational organization that sets global export and import standards. Apart from this, the WTO also gives decisions in the event of trade disputes between member countries.
Two main methods of settling disputes
There are two main ways to settle a dispute once a complaint is filed with the WTO. The first is that the countries concerned find solutions based on mutual agreement, especially during bilateral consultations. However, in this process, if any party is not satisfied with the decision of the committee, it challenges the same in the appellate body.
interruption in work
The Appellate Body is the WTO’s apex body for settlement of disputes. But the working of the WTO’s dispute settlement mechanism was hampered after the US stopped the appointments of members to the appellate body (arbitration tribunal).
24 appeals filed so far
Thereafter, the appellate body has stopped functioning with effect from December 10, 2019. Since December 2019, 24 appeals have been filed after the appellate body became inactive. Of these, four appeals have been filed by India. According to international trade experts, the US wants to undermine the two-tier system of dispute settlement mechanism and does not intend to reinstate the appellate body.
Edited By: Krishna Bihari Singh