Asians find WTO's rules provide fairer treatment
Article Abstract:
The World Trade Organization (WTO) ruled that the US was unjustified in imposing emergency import curbs in early 1995 on woolen shirts from Hong Kong. The ruling prompted the US to also lift similar import curbs on luggage from the Philippines and synthetic yarn from Thailand. This and other similar rulings have given confidence to Asian diplomats in Geneva that the WTO is a more level playing ground for trade disputes than the GATT. Asian countries have vowed to frustrate the US and the EU's bids to get two seats each out of the seven seats on a WTO appellate body to ensure the WTO's impartiality.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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WTO's new dispute-settlement system will streamline cases, Ruggiero says
Article Abstract:
World Trade Organization (WTO) Dir.-Gen. Renato Ruggiero said that the WTO's new dispute-settlement system is a continuation of the GATT system, except that it is more rule-based and thus less politicized. Moreover, it is more efficient because there are time limits for settling all trade disputes. Although stretched thin in personnel, the WTO has shown itself to be capable of handling the large volume of cases brought to it. Ruggiero also said that the WTO has a budget to educate those countries that have so far been marginalized to exercise their rights in world trade.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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South Asia stands to be big winner under GATT rules
Article Abstract:
The World Bank has pointed out the large potential benefits to south Asian economies if they reduce trade barriers under the GATT. The report projects that Asian members of the GATT, India, Pakistan, Bangladesh and Sri Lanka, will raise their productivity by $7 billion annually since they export directly to industrialized countries and receive preferential treatment.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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