BRICS calls for immediate restoration of WTO dispute settlement mechanism
NEW DELHI: BRICS has called for the immediate restoration of an accessible, effective, and fully functioning two-tier binding World Trade Organisation (WTO) dispute settlement mechanism while reaffirming its support for a rules-based multilateral trading system.
BRICS, an intergovernmental organization consisting of Brazil, Russia, India, China, and South Africa, has called for the immediate restoration of a fully functional, two-tier binding World Trade Organisation (WTO) dispute settlement mechanism. The grouping reaffirmed its support for a rules-based multilateral trading system and expressed serious concern over unilateral tariff and non-tariff measures that undermine the WTO's effectiveness and credibility.
BRICS also urged the appointment of new Appellate Body members without delay, emphasizing the importance of strengthening the organisation's authority, relevance, and inclusiveness.
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