Source: China State Council Information Office
China and other members of the World Trade Organization (WTO) have formally notified the WTO of the multi-party interim appeal arbitration arrangement, the Ministry of Commerce (MOC) said Thursday.
The interim arrangement will enable participating members to resolve global trade disputes through arbitration despite the current paralysis of WTO’s Appellate Body.
An official with the MOC said that such an arrangement signaled the international community’s confidence in and support for the multilateral trading regime but stressed that the ultimate goal was to restore the normal operation of the body as the move was an interim measure.
China will join hands with other WTO members in resolving the impasse over the Appellate Body and safeguard a rule-based multilateral trading regime, the official said.