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Resolution in International Trade Essay Example

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Resolution in International Trade

The value of GATT in the resolution of disputes in international trade cannot be doubted. However, it should be mentioned that because its structure, GATT was offered for violations of common international ethics, a fact which was appropriately used by countries worldwide when they tried to improve their position in the context of the international market. Deveraux et al. (2006) refers to the case of Japan, which used the benefits derived from the ‘liberalization countermeasures’ scheme - available in GATT (2006, p.164). It became clear that the GATT system should be alternated in order to respond to the increased needs of international trade. The update of the GATT system and the introduction of WTO Dispute Settlement System were the main subjects of the Uruguay Round (1994).In accordance with Petersmann (1997), the main differentiation between GAPP and the WTO Dispute Settlement System (DSS) is the fact that the former offered to the parties of a dispute the option to choose the jurisdiction applied on their case. On the other hand, in the context of WTO DSS, there is no such option available. Rather, the new System is more integrate introducing specific criteria on the choice of jurisdiction; under the WTO DSS, ‘there is no scope for ‘rule shopping’’ (Petersmann, 1997, p.178). In practice, most of the features of WTO DSS have been proved to be effective – especially compared to GATT. For this reason, WTO DSS could be characterized as an ideal tool for dispute resolution in the context of international public law. One of the most important advantages of WTO DSS is that it helps towards ‘the reduction of high costs of legal uncertainty in foreign trade’ (Petersmann et al., 2003, p.513). Furthermore, the structure of WTO promotes fairness and equality in the discussion of international trade disputes. The above target is achieved through the establishment of two different types of institutions, which have the power to deal with international trade disputes in accordance with the WTO rules.

Bibliography

Benitah, M (2001) The law of subsidies under the GATT/WTO system. Kluwer Law International

Davey, W. (2006) Enforcing world trade rules: essays on WTO dispute settlement and GATT obligations. Cameron May

Deveraux, C., Lawrence, R. Watkins, M. (2006) Case Studies in US Trade Negotiation: Resolving disputes. Peterson Institute

Esty, D. (1994) Greening the GATT: trade, environment, and the future, Τόμος 1994. Peterson Institute

Hocking, B., McGuire, S. (2004) Trade politics. Routledge, 2004

Karns, M., Mingst, K. (2004) The United States and Multilateral Institutions: Patterns of Changing Instrumentality and Influence. Routledge

Petersmann, E., Pollack, M. (2003) Transatlantic economic disputes: the EU, the US, and the WTO. Oxford University Press

Petersmann, E. (1997) The GATT/WTO dispute settlement system: international law, international organizations, and dispute settlement. Martinus Nijhoff Publishers

Stoll, P., Schorkopf, F. (2000) WTO: world economic order, world trade law. Martinus Nijhoff Publishers

Van den Bossche, P. (2005) The law and policy of the World Trade Organization: text, cases and materials. Cambridge University Press

Zimmermann, A. (2006) Negotiating the review of the WTO dispute settlement understanding. Cameron May

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preview essay on Resolution in International Trade
  • Pages: 4 (1000 words)
  • Document Type: Dissertation
  • Subject: Macro & Microeconomics
  • Level: Undergraduate
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