The Importance of International Trade Regulation Mechanisms Has Risen

Since the global power shift caused by the advent of new political arena - international organization, the importance of international trade regulation mechanisms has risen. Currently, out of dozens of such mechanisms, the World Trade Organization performs its role of the most prominent international economic organization. WTO, established in 1995 as a successor of GATT is aimed at “helping trade flow as freely as possible” by liberalizing it. It has over 150 state-members and therefore is inevitable faced with an ample amount of obstacles, mainly with overlapping interests and conflicting agendas. However, it has managed to dramatically advance to the improved instrument of reaching the consensus when setting disputes. During Uruguay Round of Multilateral Trade Negotiations the current dispute settlement system was established underscoring the importance of ”preventing the detrimental effects of unresolved international trade conflicts and to mitigate the imbalances between stronger and weaker players by having their disputes settled on the basis of rules rather than having power determine the outcome” . In the context of so-called Dispute Settlement System there are two methods of dispute regulations: finding a mutually satisfactory solution through bilateral consultations or recourse to the Dispute Settlement Body (the DSB).. there have been debates on whether the system has become an effective mean of regulation disputes between member states on the issues, such as tariffs, intellectual property and other barriers towards global trade. A majority of WTO are developing countries, howveer only blbla or does it sometimes seen as disadvataged towards developing countries Most Developing Countries are Not Active Participants in ...

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... there is no intersted industry and then we come back to the first problem of the lack of finances.
The third challenge inevitably arises from the previous one. It is the Lack of adequate practical experience of participation in trade disputes. Due to their less frequent use of the WTO system, developing countries have less inducement in deploying resources for the advancement of their internal legal expert facilities. Furthermore, they are unable to benefit from economies of scale that leads to "long-term structural imbalances in the development of legal resources". In this case a good strategy for experience gain is participation in the disputes as a third party. However, the data shows that developing countries are unable to defend their interests as third parties as well. Among developing countries, only a few of them have gone through that experience.