Thursday, May 22, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

WTO hits road block over advancing dispute reform talks

Simon Osuji by Simon Osuji
March 22, 2024
in Manufacturing
0
WTO hits road block over advancing dispute reform talks
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


The World Trade Organization is struggling to find an ambassador to lead negotiations on fixing its hobbled dispute system by the year-end, trade sources said, as the body’s chief urged countries to keep striving for a deal.

Related posts

Adidas will no longer use kangaroo leather in its shoes

Adidas will no longer use kangaroo leather in its shoes

May 21, 2025
Trump signs executive order to slash US drug prices by up to 80%

Trump signs executive order to slash US drug prices by up to 80%

May 14, 2025
Source: Reuters.

Source: Reuters.

The commitment to continue such efforts in 2024 was one of the few concrete outcomes at the WTO Abu Dhabi meeting last month which has some minor successes but failed to strike major global agreements.

The talks are aimed at agreeing reforms to the WTO’s top appeals court, known as the Appellate Body, which has been idle since 2019 due to US blockages of judge appointments. The lack of an Appellate Body has left dozens of trade disputes worth billions of dollars unresolved.

But days before the Abu Dhabi meeting, the talks’ previous facilitator Marco Molina from Guatemala who has been widely praised for developing a new interest-based negotiating method was dismissed by his government.

The global trade watchdog had hoped to propose a replacement at its General Council meeting in Geneva on Thursday and Friday but three ambassadors declined, trade sources said.

The countries included Botswana and Honduras, they said. Their Geneva delegations did not immediately respond to a comment request.

“It’s a lot of work and this is very difficult to land so it’s fair enough they said no,” said one WTO delegate, who is not authorised to speak publicly.

Agreements at the global body are difficult to strike since all 166 of its members must agree.

Source: Centre for International Governance Innovation.

At the WTO meeting on Thursday, 21 March 2024, which is the body’s first major gathering since Abu Dhabi, some countries rued “abuse” of this consensus principle, referring to when just one country holds negotiations hostage by blocking a deal, sometimes in order to force progress on other topics.

However, director-general Ngozi Okonjo-Iweala struck an upbeat tone and urged countries to keep working on talks including dispute reforms and cutting fisheries subsidies.

“We must regroup and reinvigorate how we engage in the coming weeks and months to complete the unfinished business as soon as possible,” she said.



Source link

Previous Post

Kenya and US crypto groups unite in demand for release of detained Binance execs in Nigeria

Next Post

Verto Pay Redefines Nigerian SME Financial Management

Next Post
Verto Pay Redefines Nigerian SME Financial Management

Verto Pay Redefines Nigerian SME Financial Management

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

L3Harris Says F-16 Electronic Warfare Suite Nears Major Milestone

L3Harris Says F-16 Electronic Warfare Suite Nears Major Milestone

1 year ago
How Tech Platforms Boost Youth Employment in Africa

How Tech Platforms Boost Youth Employment in Africa

4 weeks ago
The Surprising Mix of Qualities That Make People Influential.

3 Simple Recruiting Tips That Will Save You Time and Money

2 years ago
Chainlink (LINK) Forecasted To Hit $30: Here’s When

Chainlink (LINK) Forecasted To Hit $30: Here’s When

1 year ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Matthew Slater, son of Jackson State great, happy to see HBCUs back at the forefront

    0 shares
    Share 0 Tweet 0
  • Dolly Varden Focuses on Adding Ounces the Remainder of 2023

    0 shares
    Share 0 Tweet 0
  • US Dollar Might Fall To 96-97 Range in March 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.