Arjun. P.V, Christ Deemed to be University, Bangalore, Karnataka
ABSTRACT
The present research paper aims to concentrate on the effect of disputes in and out of International trade which will arise in day to day activities as the time progresses. The researcher in the present paper aims at discussing some of the cases decided by the WTO itself.
There exist various modes of dispute settlement in the world wide arena like local remedies international chamber of arbitration, singapore arbitration, International center for settlement of investment Dispute (ICSID) an other modes including various kinds of arbitration. International trade is gaining momentum and the world is marching towards perfect globalization. Then the existence of WTO and upcoming of the same has emphasized a clear cut mark in the dispute settlement programme.
The nature of international conflicts that exist in these days and the International Dispute Settlement is completely different as depending on the countries as being the members of the WTO (World Trade Organisation), not being the member of the WTO is of extreme difficulty in these days of global growth and International trade prominence.
The WTO dispute settlement has become most prominent aspect and need of the hour as it has grown immensely in these global scenario and it has been also noted that it has become one of the most important tribunal where the member countries use widely in these 23 years of its existence there was a number of 576 complaints which came from 320 matters and it has taken 310 panel and appellate body report and rest cases being the contentious cases referred to the International Court of Justice.
Keywords: WTO, DSU(Dispute settlement understanding), international Law, WTO agreements, panels, DSP(Dispute settlement procedure)
