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WTO to have a fully functional dispute settlement system by 2024
Published on 14 Sep 2023
- The G20 leadership summit has declared it will work towards having in place a fully functional dispute settlement system at WTO by 2024.
- It has been almost four years since the World Trade Organization’s Appellate Body, which is the dispute-settlement arm of the WTO, became defunct, thus affecting developing countries adversely.
- There are two main ways to settle a dispute once a complaint has been filed in the WTO
- First – The countries find a mutually agreed solution, particularly during the phase of bilateral consultations
- Second -Through adjudication which includes ruling by a panel and if not satisfied, challenging that ruling at the appellate body.
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