Description
The Effectiveness of WTO Dispute Resolution Mechanisms on International Trade: A Mixed-Methods Study
Abstract
The dispute resolution system is developed by “World Trade Organization” for identifying and resolving the trade issues between countries. It acts as a judicial and law enforcement mechanism that helps in resolving trade disputes between both parties. Generally, the dispute settlement system is an effective step towards great trade governance legalization under multilateral trade regime. It clearly follows the guidelines and policies defined by WTO in understanding and mitigating the trade issues. The dispute settlement approach follows a legalistic and structured process of addressing and mitigating the trade conflicts. The study explains the effectiveness of dispute settlement system in addressing international trade conflicts by using mixed methodology.
The dispute settlement understanding (DSU) explains both parties or countries regarding the legal procedures and policies while performing a trade. The study uses a mixed method approach of measuring the effectiveness of WTO’s dispute settlement system in addressing trade conflicts. Moreover the initiation stage verifies the trade issue or concern raised by a member among both parties. The solution for mitigating the trade issues is verified through consultations in the dispute resolution system. However the qualitative analysis gathers the required information from interviews with business professionals and trade experts. The quantitative analysis performs extensive research to analyze the efficiency of dispute settlement system in managing trade conflicts.
The WTO has a significant role in resolving the trade disputes between nations by using a structured framework. Comprehensive information regarding the effectiveness of the WTO’s dispute resolution system is collected using the mixed method approach. Generally, the primary aspects of the dispute settlement system are legal compliance, efficiency, and structured process. Moreover It is important for the nations to follow the guidelines of dispute settlement system for maintaining balance in their operations. However the main challenge in dispute resolution system is lack of appeal rights and powers which impact the resolution time. The dispute settlement system helps both parties to ensure legal compliance and privacy to reduce international trade conflicts.
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Effectiveness of the World Trade Organization’s Dispute Settlement Mechanism
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