News & Opinions Home
Market Place
AFP
WTO marks 400th trade dispute case
Saturday November 7, 07:32 AM
GENEVA (AFP) - The World Trade Organisation said Friday that 400 trade dispute cases had been filed since the agency was formed in 1995, with the United States and the European Union lodging the most complaints.
"On the eve of its 15th 'birthday', the World Trade Organization (WTO) earlier this month reached the milestone of having the 400th trade dispute brought to the body's dispute settlement mechanism," said the trade body.
"This is surely a vote of confidence in a system which many consider to be a role model for the peaceful resolution of disputes in other areas of international political or economic relations," added WTO Director-General Pascal Lamy.
The 400th dispute was brought by Canada on Monday against the European Union, challenging a ban imposed by Brussels on imported seal products.
The EU is the second most frequently targeted members of the WTO, with 66 cases brought against it. In turn, it launched 81 cases.
Meanwhile, the United States is both the biggest plaintiff and defendant in WTO disputes, bringing 93 of the complaints and being targeted in 107 cases.
"Certainly, these two trading giants are the most frequent users of the system. This is not surprising since they are the world's biggest traders, as is increasingly the case with China," said Lamy.
Since joining the trade body in 2001, China has launched six cases and was the target of 17 cases.
Of the 400 cases filed by the trade body's 153 members, about half have been settled by the parties without going to litigation.
At the moment, 17 cases are in adjudication. Parties are also holding consultations on 12 other cases.
The WTO said its dispute settlement mechanism is "vital for enforcing" international trade rules and "therefore for ensuring that trade flows smoothly."
Next Article: Cyprus opens new airport to attract tourism, trade
Previous article: Research and Markets: Roughly 90 Percent of the Beauty and Cosmetics Export Manufacturing Industry in China Is Comprised Of Small and Midsize Companie
Top Headlines
Singapore-China-Korea Co-production First Out of MDA International Film Fund
Saturday November 7, 10:55 AM - JCN Newswire
Los Angeles, Nov 6, 2009 - (ACN Newswire ) - The Media Development Authority of Singapore (MDA) today announced the first fil .. Read More
Court staff escalate industrial action
Saturday November 7, 09:34 AM - Newstalk ZB
Ministry of Justice staff are escalating their industrial action from Monday in support of a pay rise. .. Read More
Air NZ takes the Mickey
Saturday November 7, 08:22 AM - Newstalk ZB
Air New Zealand is making the most of the misfortunes of Maori Party MP Hone Harawira and Act leader Rodney Hide. .. Read More
Calculators
Copyright © 2009 Yahoo! All rights reserved.
Yahoo!Xtra: A Yahoo!7/Telecom New Zealand Company.