US wants World Trade Organisation dispute system fixed by 2024

Business Jan, 28 2023
US wants World Trade Organisation dispute system fixed by 2024
  • 78
  • 0

GENEVA: The United States is entering a third phase of talks with countries to reform the World Trade Organization’s (WTO) hobbled trade dispute arbitration system and aims for it to be “fully functioning” by the end of 2024, the US ambassador to the WTO told Reuters on Thursday. The WTO’s appeals bench, which rules on top disputes, has been mothballed for over two years due to Trump-era blockages of adjudicator appointments. Under President Joe Biden, Washington has resisted calls by WTO members to approve appointments and has instead been leading negotiations on how to reboot the WTO’s dispute system. “Our goal is a fully functioning (dispute system) by 2024,” Deputy United States Trade Representative Maria Pagan told Reuters in her first public comments on the closed-door talks, saying Washington was “very committed” to reforms. Asked whether it was possible to revive the Appellate Body, Pagan did not rule it out.

“I think it needs a lot of revamping,” she said. The United States has criticized the WTO’s alleged overreach and lengthy processes and it has strongly contested some of its recent rulings against the United States. The US-led consultations with more than 70 countries over the past year have involved 12 reform themes expected to result in concrete proposals, Pagan said. She declined to give details but suggested they would include alternatives to formal disputes such as mediation. The appeals bench freeze means 24 WTO cases are stuck in legal purgatory because the losing party has appealed into a void.

WTO Director-General Ngozi Okonjo-Iweala has previously said the global trade body can reach deals on difficult topics like reform by its next major meeting (MC13) in early 2024, although Pagan said that might be too soon. “We don’t view this as work that has to be done by MC13. But that does not mean that we’re not committed to working as quickly as we can on this because we are,” she said. Some delegates have expressed disappointment with the US engagement with the 28-year-old WTO, which it helped establish. They cite Washington’s no-show at a key WTO meeting at Davos last week as an example.

Published in The Daily National Courier, January, 28 2023

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.

NC Desk
NC Desk
Daily National Courier is a leading morning English newspaper of twelve pages covering all international and national political developments on 24/7 basis.

NC Big Stories

Israel’s barbarism unstoppable, Palestinians in ‘dire straits’

GAZA: Israeli forces stormed the main city in the southern Gaza Strip yesterday and hospitals struggled to cope with scores of Palestinian dead and wounded. In what appeared t...

JUI-F chief Fazl questions feasibility of holding elections

ISLAMABAD: With national elections looming just two months away, Maulana Fazlur Rehman, the chief of Jamiat Ulema-e-Islam-Fazl (JUI-F), expressed apprehensions yesterday about...

Nepra nods over Rs3 per unit hike in power tariff

ISLAMABAD: The National Electric Power Regulatory Authority yesterday approved a Rs3.07 per unit increase in electricity prices, applicable to all power distribution companies...

Hannah Husain becomes first Pakistani to debut at Le Bal des Débutantes

Being held in Paris, Le Bal des Débutantes  also known simply as ‘le Bal’ is a debutante ball and fashion event held annually in November in France&rsq...

More like this

PM foresees CPEC progress, detractors’ relevance fading

WADAR: Caretaker Prime Minister Anwaar-ul-Haq Kakar on Monday urged the people of Balochistan, particularly, the youth to avail the historic opportunity of development in thei...

KSE-100 index hits 61,000 mark

The KSE-100 Index surged to a fresh high of 61,555.83 in early Wednesday trading, marking another record-breaking milestone following the recent breakthrough of the 60,000 mar...

PSDP 2023-24: Govt releases Rs300.91bn funds in 4QFY24

ISLAMABAD: Government authorised utilisation of development funds amounting to Rs 300.904 billion, out of total allocation of Rs 950 billion, for various ongoing and new socia...

Afghan border trade resumes after Pakistan suspends new visa rule

PESHAWAR: Cross-border trade between Pakistan and Afghanistan was back to normal, officials in both countries said after Islamabad suspended new visa rule. Commercial traffic...
Need Help? Chat with us