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By joining the WTO, member countries have agreed that if they believe fellow members are in violation of trade rules, they will use the multilateral system of settling disputes instead of taking action unilaterally — this entails abiding by agreed procedures—Dispute Settlement Understanding—and respecting judgments, primarily of the ...
Once it has decided on the case, i.e., whether the complaint had been shown to be right or wrong, the DSB may direct the 'losing' Member to take action to bring its laws, regulations or policies into conformity with the WTO Agreements. This is the only direction that emerges from a WTO dispute. There is no concept of "punishment" or even ...
The Advisory Centre on WTO Law (ACWL) is an international organisation established in 2001 to provide legal advice on WTO law, support in WTO dispute settlement proceedings and training in WTO law to least developed countries, developing countries and customs territories, and countries with economies in transition.
The Appellate Body of the World Trade Organization (WTOAB) is a standing body of seven persons that hears appeals from reports issued by panels in disputes brought on by WTO members. [1] The WTOAB can uphold, modify or reverse the legal findings and conclusions of a panel, and Appellate Body Reports, once adopted by the Dispute Settlement Body ...
The economists Harry Dexter White (left) and John Maynard Keynes (right) at the Bretton Woods Conference in New Hampshire [27]. The WTO precursor, General Agreement on Tariffs and Trade (GATT), was established by a multilateral treaty of 23 countries in 1947 after the end of World War II, in the wake of other new multilateral institutions dedicated to international economic cooperation—such ...
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