Post by account_disabled on Jan 2, 2024 6:31:18 GMT
Department of International Trade Negotiations reveals ASEAN is preparing to sign "Protocol on the ASEAN Economic Dispute Settlement Mechanism" during the September Ministerial Meeting Provides ASEAN with a more effective mechanism for resolving trade disputes. Make corrections internally After the WTO's dispute settlement mechanism appeared to be crippled as members still could not reach a conclusion on selecting an Appellate Body member to fill the vacant position. Mrs. Oramon Sapthaweetham Director-General of the Department of International Trade Negotiations revealed that 10 ASEAN member countries are currently undergoing internal processes.
To prepare for the joint signing of B2B Email List the newly revised Protocol on the ASEAN Economic Dispute Settlement Mechanism. During the 51st ASEAN Economic Ministers Meeting that will be held in September 2019 in Bangkok, after signing This Protocol It will come into effect after all 10 ASEAN member countries ratify it. “Having a dispute resolution mechanism belongs to ASEAN itself. Happens at the right time and will be beneficial to ASEAN member countries This comes at a time when the trade dispute settlement mechanism of the World Trade Organization (WTO) is having trouble selecting new members of the appeals body to replace six of the seven members whose terms will expire in December this year.
Because if WTO members are still unable to reach a conclusion in selecting members of the Appellate Body to fill vacant positions This will cause the dispute resolution process of the WTO to come to a halt. WTO members will lack a place to rely on to resolve trade disputes. But ASEAN does not have to worry about this problem. Because there is a new dispute resolution mechanism that can be used to solve trade problems within ASEAN itself. without needing to rely on the mechanism of WTO,” Mrs. Oramon said. As for the revised ASEAN trade dispute settlement mechanism, there are important points such as adjusting the conditions for litigation to be clearer and more fair.
To prepare for the joint signing of B2B Email List the newly revised Protocol on the ASEAN Economic Dispute Settlement Mechanism. During the 51st ASEAN Economic Ministers Meeting that will be held in September 2019 in Bangkok, after signing This Protocol It will come into effect after all 10 ASEAN member countries ratify it. “Having a dispute resolution mechanism belongs to ASEAN itself. Happens at the right time and will be beneficial to ASEAN member countries This comes at a time when the trade dispute settlement mechanism of the World Trade Organization (WTO) is having trouble selecting new members of the appeals body to replace six of the seven members whose terms will expire in December this year.
Because if WTO members are still unable to reach a conclusion in selecting members of the Appellate Body to fill vacant positions This will cause the dispute resolution process of the WTO to come to a halt. WTO members will lack a place to rely on to resolve trade disputes. But ASEAN does not have to worry about this problem. Because there is a new dispute resolution mechanism that can be used to solve trade problems within ASEAN itself. without needing to rely on the mechanism of WTO,” Mrs. Oramon said. As for the revised ASEAN trade dispute settlement mechanism, there are important points such as adjusting the conditions for litigation to be clearer and more fair.