EU expects G20 summit leads to the World Trade Organization reform

The European Union (EU) is confident that the results of the efforts made to reform the World Trade Organization (WTO) will be evident at the G20 summit to be held in Osaka on June 28 and 29

The European Union considers that the system based on WTO rules is in crisis, since as an organization based on the consensus of its members it has not been able to deal with the economic and technological changes of the last decades.

That is why it considers that unfair practices carried out by state companies, forced transfers of technology, outdated rules or unilateral actions are testing the limits of the World Trade Organization.

A key element of the dispute resolution mechanism of the organization and the appellate body could be paralyzed soon because the appointment of new judges is blocked and the mandates of the current ones are expiring. Moreover, the United States blocked the selection of new members since 2017.

It is expected that by the end of 2019, only one member remains in the appeal body; but it can not work with less than three members. Before these facts, the EU seeks commitments with like-minded partners in the G20, as well as with China, in the face of a balanced and comprehensive reform of the WTO.

It is worth remembering that the EU was the first member of the WTO to present a comprehensive approach to reform the institution, including its functions of negotiation, monitoring and resolution of disputes. The body made a proposal with concrete changes to overcome the stalemate in which the appellate body is located.


Source: La Vanguardia

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