Chambers Ireland have welcomed the news from the World Economic Forum in Davos of the EU, China and 15 other countries agreeing to develop a temporary system for appealing trade disputes, following the breakdown of the World Trade Organisation’s (WTO) Appellate Body in December 2019.
Chambers Ireland Chief Executive Ian Talbot said, “Continued paralysis of dispute resolution processes threatened to undermine the critical rules-based WTO environment that underpins global trade. The news from Davos of an agreement between a number of WTO member countries, albeit temporary, is welcome.
This demonstrates the value that a number of major global economies place on these processes and we urge all other WTO member countries to commit to this solution while lasting reforms are negotiated.”
