Fisheries Economics

7.1.5. Dispute settlement

In 1994, the WTO member countries agreed on the “Understanding in Rules and Procedures governing the Settlement of Disputes” (DSU) which was annexed to the “Final Act” signed in Marrakesh in 1994. Resolution of disputes among member countries is one of the most important functions of the WTO. When member countries feel that their trading partners violate the WTO rules they can seek resolution of the disputes through “multi lateral systems” so that they can avoid taking decisions unilaterally.