European Council Approves System to Temporarily Replace WTO Dispute Settlement Body
The European Council approved a system that will allow the European Union and other World Trade Organization members to solve trade disputes despite the paralysis of the WTO’s dispute settlement body (see 2001240027), according to an April 15 press release.…
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The new “multi-party interim appeal arbitration agreement” will be temporary and mirror the “main features of the WTO appeal system,” the council said. The system will establish a “binding resolution” for trade disputes and give countries access to an “independent and impartial appeal review of panel reports.” The council said the EU remains committed to finding a “permanent and urgent solution” to the current inability of the WTO appellate body to operate due to insufficient members.