ABS-CBN
Marcos urges APEC leaders to revive WTO’s Appellate Body, dispute mechanism
President Ferdinand "Bongbong" Marcos Jr. urged Asia-Pacific Economic Cooperation (APEC) member-economies to prioritize the full restoration of the World Trade Organization's (WTO) dispute settlement mechanism.
Speaking at the APEC Economic Leaders' Meeting, Marcos emphasized the need for responsiveness, dynamism, and a forward-looking approach in the evolving global economic landscape.
He stressed that a functioning dispute settlement mechanism, including the Appellate Body, is crucial for small economies to avoid being at a disadvantage.
Marcos highlighted that rules serve as a potent equalizer for smaller nations in international trade.
The WTO's Appellate Body has been unable to convene since 2019 due to a lack of quorum after the United States blocked the appointment of new judges.
He also called for support in advancing new disciplines to foster trade in the digital era and improve conditions for businesses.
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