Revival of WTO Dispute Resolution Mechanism

24 Aug 2023

Context: 

  • India is seeking re-establishment of the dysfunctional dispute resolution mechanism under the World Trade Organisation (WTO).

More about the news: 

  • This move is guided by the principle of common but differentiated responsibility along with a push towards consensus-based decision making.

 

World Trade Organization (WTO):

  • The WTO is the only global international organization dealing with the rules of trade between nations as well as maintaining the free flow of trade between its member countries. 
  • Origin: WTO is an international organization set up in 1995 by replacing the General Agreement on Trade and Tariffs (GATT) under the Marrakesh Agreement.
  • Headquarters: Geneva, Switzerland
  • Member Countries: WTO has 164 members and India is a founding member of WTO.

Dispute Settlement Mechanism under WTO

News Source: Indian Express 

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Quick Revise Now !
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध

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