India said on Monday that existential challenges to the multilateral rules-based trading system are manifest in a spate of unilateral measures and countermeasures, deadlock in key areas of negotiations and the impasse in the appellate body threatening dispute settlement mechanism of the World Trade Organisation."The logjam in the appellate body is a serious threat to the dispute settlement mechanism of the World Trade Organisation (WTO) and its implementation function," Commerce Secretary Anup Wadhawan said while inaugurating a meeting of the officials ahead of the two-day ministerial meeting of the WTO from Tuesday.The fundamentals of the system are being tested through a tide of protectionism around the world, vitiating the global economic environment, said Wadhawan. The situation does not bode well for developing countries, including the least developed countries."There is an urgent need to engage constructively to preserve the system and come up with constructive solutions to ...
