What is the Trade and Technology Council?
The Trade and Technology Council is a forum for the United States and the European Union to promote coordination between the two powers in dealing with global trade, economic, and technology issues and to further promote transatlantic trade and competitiveness between the two parties. It was established on 15 June 2021 during the EU – U.S. Summit in Brussels.
Briefly explain the dispute settlement process given by the World Trade Organisation.
A. The World Trade Organization provides a mechanism for the settlement of disputes between parties that are members of the WTO, which can come into play in the event, if a member country violates any WTO agreement. This mechanism is known as the Dispute Settlement Undertaking (DSU), under which the Dispute Settlement Body (DSB) convenes to settle disputes using the provisions of the DSU.
The following are the stages for settlement of trade disputes between member nations of the WTO: –
- Consultations – Under Article 4 of the DSU, the parties in dispute must endeavour to resolve their disputes through consultation with each other to reach a resolution. One party must request the other party to enter into consultation, and the latter party must accept the request within 10 days of the date from the date of receipt of the request. Thereafter, within a time period of 30 days, the parties must enter into consultation. The proceedings for settling the disputes may end here if an acceptable resolution to the dispute is reached between the parties. However, in the event, no resolution is arrived at within 60 days of receiving the request for consultation, then the aggrieved party within the dispute may request for the forming of a panel by the DSB.
- Establishing of the Panel: – The panel is constituted under Article 6 of the DSU. The panel functions as an aid to the DSB, where the panel examines the entire dispute, peruses the facts and issues and accordingly, prepares a report on the case, which it must send to the parties in dispute within 6 months of the date of the start of the panel procedures. The panellists are selected under Article 8 of the DSU by the Secretariat of the WTO.
- Proceedings: – At this stage, each party will make their submissions and present their case to the panel. The parties’ submissions are given to the Secretariat of the WTO, who would in turn transfer them to the panel. If it is deemed necessary, the panel may put forward its own questions towards the parties. After the examination of the submissions is complete, if the parties reach some kind of solution to the dispute, the panel will make a written report on the matter and the solution that is reached and will send such a report to the DSB. If a solution is not found, the panel will nevertheless prepare a report to that effect on the matter along with some recommended solutions if it finds any itself.
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