Major New Zealand food and beverage exporters are urging World Trade Organisation members to accelerate efforts to "fix" its trade disputes mechanism which is currently suspended.
Organisations representing New Zealand meat, dairy, horticulture, wine, and seafood exporters released a statement today saying they were deeply concerned that attempts to reach a consensus on the Appellate Body WTO had failed.
The Appellate Body adjudicates on contested rulings over disputes between member countries and was now unable to function. This left a key gap in the enforceability mechanism of the rules-based trading system.
Exporters said it was critical that WTO members continued to support, but also to reform and improve, the multilateral, rules-based trade system to reflect the current and future needs of trade.
The statement went on to say a stable enforceability mechanism for the rules-based trading system provided certainty and confidence for New Zealand exporters when pursuing opportunities in global markets.