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G20 leaders commit to WTO Reforms To Have a Fully Functional Dispute Settlement System by ______.
A)
2023
B)
2024
C)
2026
D)
2028

Correct Answer :   2024


The G20 leaders on Saturday (9th Sep 2023) expressed their commitment to conduct discussions for having a "fully and well-functioning" dispute settlement system of the World Trade Organisation (WTO) by 2024.

Besides formulating norms for global exports and imports, the Geneva-based 164-member multi-lateral body adjudicates trade disputes among the member countries. The dispute settlement mechanism of the WTO has been derailed due to a non-functional appellate body since December 2019.

''We reiterate the need to pursue WTO reform to improve all its functions through an inclusive member-driven process, and remain committed to conducting discussions with a view to having a fully and well-functioning dispute settlement system accessible to all members by 2024," the G20 declaration said. It said that the leaders expressed commitment to work constructively to ensure positive outcomes at the WTO's Thirteenth Ministerial Conference (MC13).

MC, which is the highest decision-making body of the WTO, is scheduled to meet in February next year (2024) in Abu Dhabi.

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.

The appellate body is the apex institution for adjudicating disputes. Smooth functioning of the WTO's dispute settlement mechanism hit a roadblock when the US blocked appointments of members in the appellate body (AB). Though the AB stopped functioning on December 10, 2019, the panels are still working..

Source : Devdiscourse

Published On : September 10, 2023
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