Let us discuss some of the developments on WTO reform In respect of reforms to the dispute settlement mechanism, developed countries, especially the US, have resisted any discussion on the core problem—restoration of the now dysfunctional appellate body. Otherwise, it will continue to cripple this mechanism.Turning to a few other aspects of WTO reform, developed countries are attempting to undermine some of the fundamental pillars of the WTO rulebook, particularly how decisions are made by members. The objective is clear—push negotiations on issues of their interest even if the vast majority of the developing countries are against it. Such discussions provide ample latitude for developed countries to indulge in power play, while affording opportunities to the WTO secretariat to expand its role. The task for India and many other developing countries at MC13 is clear—prevent developed countries from deforming the rules-based WTO into a power-based system, tailored to suit their commercial interests.

Source: Economic Times February 25, 2024 13:38 UTC