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GATT And WTO Dispute Settlement Mechanism: A Comparative Analysis




Arti Yadav & Dr. Shova Devi, Amity Law School

ABSTRACT

The present study on the “Dispute Settlement of GATT and WTO” its causes, consequences and preventive measures, has captured spectrum various organizations. The present study is important for several reasons. Firstly, the study has been carried out in the international era which intended the resolution of disputes respects the freedoms of wronged members and clarifies the extent of their rights and duties. The GATT and WTO prioritize dispute resolution, preferably by a mutually agreed-upon settlement that complies with the WTO acceptance. The DSU has the main prompt in the settlement of disputes.

But one must remember that WTO disputes can frequently be extremely complex in both factual and legal aspects.

Building agreement over taking unilateral action is prioritized in the WTO's process for solving international trade disputes. Even while defining the range for privileges and responsibilities and protecting the rights of impacted participants are the main goals of the dispute settlement procedure. All WTO members convene in another General Council known as the Dispute Resolution Committee to resolve disputes. The DSB selects the seven individuals that make up the WTO Appeals Body.

Rather, like other judicial the process is not to issue judgments or create jurisprudence. The party complaining may ask for the creation of a three- member investigating panel if the talks are unsuccessful in resolving the conflict. The Uruguay session (1996–1994) is what led to a conflict solution rule of procedure. With the help of this kind of approach, a commercial dispute may be quickly resolved.

The World Trade Organization ("WTO") offers a tool for the resolution of trade problems between both sides in the shape of the Dispute Resolving Commitment. The conflict often develops when a member nation breaches a WTO agreement clause that other members believe to be violated it’s worthless. The Great Depression of the 1930s began with the USA on September 4, 1929, and culminated on October 29, 1929, with the fall of the international stock market. After then, tariffs were implemented, and from 1939 until 1945, they contributed to the beginning of World War's economy. From the first of July to the 22nd of July in 1944, the Breton Wood also known as the UN Currency Reserve and Monetary Conference took place in New Hampshire, USA.

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Indian Journal of Law and Legal Research

Abbreviation: IJLLR

ISSN: 2582-8878

Website: www.ijllr.com

Accessibility: Open Access

License: Creative Commons 4.0

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