“Trade will rapidly regress to an era of power politics”- India to WTOTop Stories

December 07, 2019 11:37
“Trade will rapidly regress to an era of power politics”- India to WTO

(Image source from: reutersinstitute.politics.ox.ac.uk)

A group of 117 members, including India sought to start the process of selection in order to fill the six vacancies in the appellate body that will not have a quorum to review the new trade disputes after December 10 when the second terms of two members expire. There exists four vacancies in the panel.

India states that, “a total breakdown of trust within the WTO and will have a debilitating effect on its other pillars as well” regarding the closure of the World Trade Organization Appellate Body.

India told WTO, “trade will rapidly regress to an era of power politics,” at a meeting of heads of delegation.

As the systemic concerns of the US regarding the appellate body remained unaddressed, the US said it was not in a position to agree to the proposal and the appointment of the judges has been blocked for two years ruining the multilateral trade agency’s dispute settlement mechanism. India said, “ while we agree that the dispute settlement system does require improvement, we believe that the systematic assault on its very existence is neither appropriate nor necessary.”

“It is clear that the binding, two-stage, independent dispute settlement mechanism, that gave teeth and credibility to the rules based multilateral trading system is well and truly dead” New Delhi said before curtains come down on the WTO Appellate Body.

By Shrithika Kushangi

If you enjoyed this Post, Sign up for Newsletter

(And get daily dose of political, entertainment news straight to your inbox)

Rate This Article
(0 votes)