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Essay / The importance of regulating international trade...
Since the change in global power caused by the advent of a new political arena - the international organization, the importance of mechanisms for regulating international trade increased. Currently, among dozens of such mechanisms, the World Trade Organization plays its role as the most important international economic organization. The WTO, created in 1995 to succeed the GATT, aims to “facilitate trade as freely as possible” by liberalizing it. It has more than 150 member states and therefore inevitably faces many obstacles, mainly due to overlapping interests and conflicting agendas. However, it managed to make significant progress towards the improved instrument for achieving consensus during dispute resolution. During the Uruguay Round of multilateral trade negotiations, the current dispute settlement system was established, emphasizing the importance of "preventing the adverse effects of unresolved international trade disputes and mitigating imbalances between actors the strongest and the weakest by resolving their differences on the basis of rules rather than rules. have the power to determine the outcome.” In the context of the dispute settlement system, there are two methods of settling disputes: finding a mutually satisfactory solution through bilateral consultations or resorting to the Dispute Settlement Body (DSB). There have been debates over whether the system has become a dispute resolution system. effective means of resolving disputes between member states on issues such as customs duties, intellectual property and other obstacles to global trade. The majority of WTO members are developing countries, but this is just blah blah or is it sometimes seen as disadvantage to developing countries. Most developing countries are not actively participating in ...... middle of paper ...... there is no interested industry and then we come back to the first problem of lack of financial means. The third challenge inevitably follows from the previous one. It is the lack of adequate practical experience of participating in commercial disputes. Due to their less frequent use of the WTO system, developing countries have less incentive to deploy resources to develop their internal legal expertise. Furthermore, they cannot benefit from economies of scale that lead to “long-term structural imbalances in the development of legal resources”. In this case, a good strategy for gaining experience is to participate in conflicts as a third party. However, data shows that developing countries are also unable to defend their interests as third parties. Among developing countries, only a few have had this experience.