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G-7 Trade Ministers Aim to Restore WTO Settlement System

G-7 Trade Ministers Aim to Restore WTO Settlement System

   Tokyo, Feb. 8 (Jiji Press)--Trade ministers from the Group of Seven major countries have agreed to pursue reforms to restore dispute settlement system functions of the World Trade Organization by the end of this year.
   In their joint communique adopted at an online meeting Wednesday, the ministers reaffirmed their determination to "boost the reform process" of the WTO ahead of its ministerial meeting to be held late this month in the United Arab Emirates in a bid to strengthen the free and fair multilateral trading system.
   The WTO's Appellate Body, the highest court for settling disputes, has stopped functioning since late 2019 as the United States opposed the appointments of its members.
   At the previous WTO ministerial meeting, participants agreed to realize a dispute settlement system accessible to all member countries by the end of 2024.
   Also in the communique, the ministers said they support the launching of deliberations on trade and industrial policy issues such as opaque subsidies as part of WTO reform efforts.

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AFP-JIJI PRESS NEWS JOURNAL


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