Tough to make WTO’s dispute settlement functional

New Delhi: Members of the World Trade Organization will have a tough task ahead to make WTO’s dispute settlement system fully functional by 2024 due to divergent approaches proposed by countries like China, and the European Union, experts say.

On September 9, G20 leaders expressed their commitment to conducting discussions for having a fully and well-functioning dispute settlement system of 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 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 has said. Trade experts said that all the members would have to work together to achieve this 2024 goal.

“G20 members have agreed to pursue WTO reforms, specifically aiming for a functional dispute settlement system accessible to all members by 2024. Members will have a tough task ahead considering the divergent approaches proposed by the US, EU, China, India, and other countries,” think tank Global Trade Research Initiative (GTRI) Co-Founder Ajay Srivastava said. Trade expert and Hi-Tech Gears Chairman Deep Kapuria said G20 leaders’ reiteration to pursue WTO reforms is a much needed political boost to the WTO Secretariat as they have now started preparing for the 13th Ministerial Conference. “But what is more important is the leaders’ call to make WTO dispute settlement system functional and accessible to all members by 2024.