Sign in Subscribe
International trade

Marcos Urges APEC Leaders to Restore WTO's Dispute Settlement Mechanism

Strategic Insights

— 1 min read

President Ferdinand Marcos Jr. called on leaders of the Asia-Pacific Economic Cooperation (APEC) to prioritize the restoration of the World Trade Organization's (WTO) dispute settlement mechanism and Appellate Body during the 32nd APEC Economic Leaders' Meeting in Gyeongju, South Korea. Marcos emphasized that small economies would be at a disadvantage without a functioning dispute settlement mechanism, which would enable rules to serve as a potent equalizer. He also emphasized the importance of strengthening partnerships in sectors such as e-commerce, agriculture, and digitalization to advance the region's sustainability agenda and food security.

Key Takeaways:

  • President Marcos Jr. urged APEC leaders to prioritize the full restoration of the WTO's dispute settlement mechanism and Appellate Body, emphasizing that small economies would be at a disadvantage without it.
  • The President called on APEC leaders to strengthen partnerships in sectors such as e-commerce, agriculture, and digitalization to advance the region's sustainability agenda and food security.
  • Marcos emphasized the importance of using trade as a way to raise living standards, create jobs, and improve people's lives.
  • The WTO's dispute settlement system has largely prevented damaging cycles of tariffs and retaliation outside internationally agreed-upon rules and arbitration.
  • The President urged APEC member economies to build "smarter and more sustainable supply chains" through regulatory reforms, digitalization, and skills development.
  • The APEC summit is being held under the theme "Building a Sustainable Tomorrow," reflecting the Republic of Korea's commitment to a sustainable and inclusive future.

Statistics:

  • The WTO's dispute settlement mechanism is currently unable to hear disputes due to the blocking of the appointment of new members of the Appellate Body.
  • The Philippines is a member of APEC and has called on the organization to support discussions on e-commerce, investment facilitation for development, and services domestic regulation.
  • APEC member economies account for over 50% of global trade and 30% of global GDP.

Sources:

  • "Marcos to present PH as 'reliable partner' in South Korea Apec meet" (source not available)
  • APEC 2025 KOREA
  • Center for Strategic and International Studies

Read more