Efficacy of the World Trade Organisation dispute settlement mechanism : an African perspective

Abstract

The WTO serves the economic interests of the developed regions of the world, as well as the developing and less developed ones. The creation of the WTO DSM was welcomed as a great success for the development of economic relations, among nations, in which legality only prevails, rather than power or self-serving interests. In view of the above, the success of the WTO DSM is central to the continued operation of the multilateral trading system. In addition, the most important advantage of the WTO DSM to its participating members is the fact that it serves as a standard safeguard for the recognition and protection of the reciprocal rights and obligations of its Members. Furthermore, but not less important, is the fact that the WTO DSM ensures access to a quick and efficient system of dispute settlement.