The World Trade Organization provides two procedures for the resolution of disputes between countries. One way is to request the WTO Council to appoint a "panel" to adjudicate the dispute; the other way is        Group of answer choicesto submit to the International Compensation Board, who will review the matter and publish a report with their recommendations.to turn over the matter to the International Mediation Review Board.to refer the dispute to the Free Trade Commission for settlement.a consultation and, if necessary, conciliation procedure—essentially a diplomatic solution.

The components of WTO areSelect one:a.Ministerial conferenceb.Disputes settlement bodyc.Director Generald.All of the above

Which of the following is true of the World Trade Organization (WTO)?Group of answer choicesIts functions are governed by the Rome Statute.Its dispute settlement process is governed by an agreement known as the General Agreement on Tariffs and Trade.It is responsible for implementing and enforcing the rules of international trade between nations.It is the trade-dispute settlement body of the United Nations.

WTO Members A and B conclude a compromise, according to which a specific WTO dispute between A and B is to be resolved by the International Court of Justice in the Hague and according to the procedures set out in its Statute. Are A and B permitted to do so?Select one:a.For disputes under the covered agreements, Article 23.1 of the DSU mandates recourse to the WTO dispute settlement system and therefore does not permit the use of other procedures for resolving WTO disputes.b.The Statute of the International Court of Justice does not permit States to decide that the Court is competent.c.The priority of the WTO dispute settlement system is to secure a positive solution, if possible through a negotiated agreement. The negotiated agreement can also provide for any particular form of adjudication of the dispute.d.A and B may take their dispute to the International Court of Justice, but they need the approval of the DSB who would decide by consensus.

Identify where negotiations fits into the dispute resolution process.

What is the underlying characteristic of the WTO?Group of answer choicesIt resolves disputes between economic trade blocksIt acts as an umbrella institution that regulates the agreements concluded at the Uruguay round, the organisation’s ultimate goal being the promotion of free international tradeIt facilitates economic co-operation between different countriesIt facilitates the development of less developed countriesNext