DISPUTE SETTLEMENT UNDER ASEAN AND THE WTO: A COMPARATIVE ANALYSIS
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https://doi.org/10.55662/Abstract
International Trading Regime, in recent past, has witnessed an immense change in the pattern of trade especially after the declaration of UNDD (United Nations Development Decade) that was hosted by UN, to cascade benefits of the trading regime, especially to developing and least-developed countries. The adoption of NEO (New International Economic Order) and further establishment of the World Trade Organization (WTO) are perceived as watermarks in the history of International trade. It gave boost to those economies which were not able to reap benefits because of prevalence of the Old International Economic Order. The WTO, being a ‘member driven and consensus based organization’, to a large extent has succeeded in introducing a firm rule based trading system giving predictability and certainty to the entire trading regime. A uniform framework has been created monitoring relationship between member countries, with different economic strengths, to exchange benefits. However, a bundle of trade concessions are provided to developing and least developed countries under the WTO based on the principle of ‘positive discrimination’ to realize the principle ‘TRADE AS AID’ for economic prosperity.
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Copyright © 2026 by Abhijit D Vasmatkar, Dr. Bindu Ronald
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