The World Trade Organization’s director general said that reforming the body’s dispute settlement system is a “priority.” | Reuters
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.
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 United States is entering third phase of talks with countries to reform the hobbled arbitration system and aims for it to be fully functioning by the end of 2024.
“It’s not only the U.S. that has problems. Developing countries, especially the least developed find it hard to access the system and costly,” Okonjo-Iweala said. On Monday, she also reiterated that global merchandise trade is expected to grow by one percent in 2023.Your subscription could not be saved. Please try again.
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