Create a 10 page essay paper that discusses WTO: Dispute Settlement Understanding.It is to be observed that consent-based approach is still applicable in the WTO process. However, a negative consensus
Create a 10 page essay paper that discusses WTO: Dispute Settlement Understanding.
It is to be observed that consent-based approach is still applicable in the WTO process. However, a negative consensus approach will also be applicable to the WTO DSM. A consensus is required to stop the proceedings from advancing any stage of the formal dispute settlement procedures. This is remarkable advancement since the requirement to arrive at a consensus at every phase of the procedure was regarded to be a major obstruction in the use of the DSM, especially for the developing countries. The possibility of arriving at a consensus against the appointment of a panel, the acceptance of the report or the approval to suspend concessions will be de facto impossible in real scenarios and in a nutshell, thus no stalemate can hinder the DSM procedure. Thus, the possibility delaying the procedure was a chief nervousness for developing nations and was one of the major reasons why the developing countries lacked interest in the system. It is to be observed that this automation of procedure and adoption of the panels offer them increased weight in the negotiation process, even against rich and developed nations.
The WTO DSU offers for precise and tight time limits at every phase of the procedure. Under WTO DSU, the entire procedure cannot prolong more than two and a half years which is being considered as a significant improvement in the DSU procedure. The DSM plays a significant role to ease the disequilibrium scenarios. Developing countries main concern was that developed countries should not infringe compliance procedures and they should exhibit improved compliance in agricultural trade and should redress the complaint about the damage to existing business interests from the EC Common Agricultural Policy. [Hudec.R.E, 1999].
WTO DSU offers the privilege to the members who are having a sizeable interest in a dispute to demand their grievances to be heard by a panel. .