An Evaluation of World Trade Organization

Research Questions

The various questions that are associated with the entire research and will be satisfied within it are stated below:

What are the chief features of “WTO dispute settlement system”?

What are the most widespread problems and issues faced by developing countries in terms of within the World trade market?

What are the assorted elements of development that can be indulged within the operating system of WTO?

Significance of the Problem

The political as well as economic stratus of Bangladesh is not strong enough to raise its bar and fight against trade barriers. It is quite natural that trade barriers will mainly be concerned with industries of a nation. If the government of a nation does not support the dispute settlement they nation will not be able to develop. Therefore, the improvement is very important on this context to overcome the challenges of the WTO’s “Dispute Settlement System” over the least developing country like Bangladesh.

Research Problem

The completion of nation’s governance is one of the most important factors for dispute settlement. In the recent years, government of Bangladesh is not quite stable. The nation is facing several political discrepancies and the number of opposition parties is constantly increasing. Thus, the government is not able to stick confirm on the fact that whether it will be able to seek help from WTO or DSU in the recent future. Therefore, the research would be conducted to present the way of improving the current scenario of Bangladesh those have been faced by the nation with the challenges of the Dispute Settlement System of WTO.

Structure of the research

The researcher has made five diverse sections for recognizing the topic in order to make the research successfully. The dissertation sections are as follows,

Chapter 1: Introduction

The fundamental factors of the research are explained in this chapter of Introduction. The reader of the dissertation would be capable of understanding the major aim of the research by studying the chapter.

Chapter 2: Literature Review

This particular chapter illustrates the topic literature that the researcher has implemented after the analysis of the several journals and books that connects with the dissertation topic.

Chapter 3: Research Methodology

The methods can be understood by the researcher from this section those are utilized within the research in terms of getting an outcome that is important for the particular research.

Chapter 4: Data Analysis:

The information that is gathered in terms of the secondary data research in this chapter would be analyzed. The several consequences faced by developing countries especially Bangladesh due to the WTO dispute Settlement would be illustrated in this particular research section.

Chapter 5: Recommendation and Conclusion:

This particular would prepare several research ouputs along with the recommendations for the similar fact.

Chapter Two - Literature Review

Introduction

An acceptable or a considerable amount of academic interest has been signified towards the mechanism of dispute settlement of WTO, in specifically during the last few years. Dispute Settlement is the multilateral trading system’s central pillar and the unique contribution of WTO to the global economy stability. The rules-based system would become less effective without a means of settling disputes as the protocols cannot be enforced. The procedure of “World Trade Organization” underscores the law rules and it makes the system of trading more predictable and secure. The “Dispute Settlement System” is implemented based on the clearly demonstrated protocols with the timetables to complete a case.

The WTO Mechanism for Dispute Resolution: The DSU

The Dispute settlement Unit is one of the various annexes to the agreement conducting the World Trade Organization. The dispute administration is commended towards the DSB or Dispute Settlement Body, composed of the WTO member’s representatives. The whole system is widely dispersed: no authority is there available assigned to an entity of a supra-nationfor initiating the complaints against the members of World Trade Organization and the disputes are introduced at a member’s initiative of the World Trade Organization.

WTO system adjudication has two phases: one in multilateral and one in principle bilateral. The bilateral phase is comprised if the consultation between the defendant and complainant. Some disputes are of a nature of purely bilateral although, and even if it is the fact, othe members of World Trade Organization might have an interest in the rules pertinent interpretation to this specific transaction, since, such a kind of interpretation can be significant in the interpretation of the commitments of their own in the future. While requesting consultation, to this effect, the complainant has for notifying the World Trade Organization as to the dispute’s subject-matter. Other members of World Trade Organization can join as co-complainants, given that their requests are accepted by the defendant.

A specific dispute’s subject matter can range from the disagreement through a specific transaction and the consistency of it with the relevant law of the World Trade Organization towards the disagreements across the legislation consistency with the rules of World Trade Organization. However, the standard review has much more demand in the latter scenario.

The complainant can request for the panel establishment for adjudicating the dispute assuming that the parties cannot reach any solution at the time of the stage of consultation. Such kind of request result in the second multilateral phase, comprised of two segments: the first segment is the procedures of panel, being the panel analog to a first court of instance; the second segment is the last instance court, the procedure before the Appellate Body.

The other members of the World Trade Organization have a very short period of time within that they can request for appearing before the panel following an establishment request as third parties and represent the their points of views on a certain fact. The members of the World Trade Organization secretariat assist the panels. The secretariat’s role should not be underestimated. Most essentially, the secretariat members, with the secretariat member exception working for the Appellate body, besides suggesting the panel members they are assigned to, suggest also the members of the World Trade Organization on the consequences of their competence, and therefore not exclusively assigned to the panels of service.

In practice, the complete process of adjudication can take up for three years. However, nothing prohibits the members of the World Trade Organization for reaching a MAS or a Mutually Agreed Solution throughout the process at any stage. A Mutually Agreed Solution must be observed to the DSB, while any member of the World Trade Organization can raise the questions as to the consistency of it with the protocols of “World Trade Organization”.

The Role of the Dispute Settlement Mechanism of WTO

An essential concern of the empirical literature is for evaluating whether the Dispute Settlement Mechanism in the World Trade Organization has met their purposes. Obviously the task needs an understanding of what the purposes are and in what way they are meant to be fulfilled, and it is quite obvious for starting from the goals are expressed often in very imprecise language. Therefore, it is required for viewing it from a more theoretical point of view, for appreciating the role of the mechanism of Dispute Settlement.

Two inevitable features of the trade agreements

There is a basic comparison among the scenarios under that an agreement regarding trade operates and those under what parties deal under the domestic law. Contracts in the latter case, can be made by the third parties like the courts, who have the capability ofissuingphysical action at their disposal, like an intervention. It permits the contracting parties for including the provisions that for the specific contingencies particular courses of the activities that would not be undertaken voluntarily to the contract by all the parties.

There is no any outside party in this case of an agreement regarding trade who can assure that the members abide to agreement by the obligations of them, and as an outcome, it must be self-enforcing. The important implication of it is that the agreement and the mechanism of the dispute resolution of the agreement, are required to be like that it is in the interest of each member for behaving always so as for preserving the agreement integrity. On the other hand, members must not be kept in the positions where the members would like to prefer sacrificing the contribution for the gains of short-run. The important mechanism that permits the parties for making a meaningful agreement is therefore the withdrawal threat by an adversely influenced party from the agreement. The developing countries are widely stuck together with each other and expect for remaining typically do for contract breach ad the foreseeable future by a country is to be likely noticed not only by the membership as a whole, but also by affected partners directly.

The next problem on the agreement with a scope such as World Trade Organization stems from the matter that the agreement must be incomplete for the practical reasons. It would have few explicit relatively, detailed specified constraints, but most of the ambit of it would be contained in the particular provisions vaguely, like the National Treatment. The exact ambit’s determination as a result is left to be taken a decision in the near future, while a conflict would occur.

It is likely for carrying a huge burden in two respects if the agreement contains a mechanism of the dispute resolution. At first, it is likely to have for administering a huge amount of disputes for the matter that many in the deal are left unspecified. In addition, a remarkable responsibility rests of the technique, as it is likely for playing a very crucial role to shape the practical ambit of that agreement.

The Advantages and Disadvantages of an Explicit Mechanism of Dispute Settlement

It has been suggested by many researchers that the negotiated agreements under the WTO dispute settlement should be flexible as well as self-enforcing. It will surely restrict the impact of the agreement but the threat of the future punishment for violations by the concerned parties may dissuade “a social behavior”. It is obviously necessary to incorporate in the discussion that why such “explicit dispute settlement mechanism” may benefitted at the end of the trading period. Meanwhile, the parties cannot rely only in implicit understanding of the settlement.

It has been assumed by the researchers that the substantial amount of economic literature on trade agreements should provide rational explanations. However, the determination of tariff levels are not evaluated properly and the focus made by several researchers is the legal form of the cooperative outcomes. Furthermore, the formal structure of such agreements is mostly identical in nature, which analyzed collusion in “product market”. In addition, the specified literature explained more emphatically that such agreement should maintain the economic explanation on a parallel basis by evaluating implicit “coordinated price setting and an outright cartel”. By these consequences, trading partners belongs in the negotiated agreements not distinguished between tariff reductions, which have been incorporated in the explicit agreements.

The literature related on this topic has two central elements of trade agreements. The first element mainly concentrated on the self-enforcing mechanism and for this fact there must be the common understanding of what elements should be incorporate into the cooperative behavior. Furthermore, the approach also dealt with an amount of violation of the “implicit agreement”. On the contrary, for this incompleteness of the contract faces many difficulties for the partners included in the agreements to maintain a implicit form of a common understanding. Therefore an explicitly agreed pattern is necessary for understanding the agreement and controlling related disputes may definitely be helpful for achievement of trading coordination at the specified period. Firstly, the interpretation relating to agreements fills such gaps gradually and then makes such agreements less “incomplete”. But sometimes the trading decisions may be restricted by the unintentional manner. In addition, by specified procedure in an “agreed upon” approach for jurisdiction can resolve the coordination problem relating to explicit agreements. In that perspective, the legislators can avoid the relating details of contract by agreeing to let a “third party”.

Secondly, the literature also suggested that the root of the related issues can be expected be both respondents and complainants. In that case, the DSU has selected chosen an intermediate form of punishment, which resolve the related illegalities while committing agreements by the trading partners. In that case, if the third party get a scope to determine the strong countermeasures which are generally associated with the complainants, can play a pivotal role for the specified dispute settlement mechanism.

Lastly, the complexity of such issues arise due to application of a large number of measures that mistakenly fall under the place of not favorable position and agreements may allow illegal conditions relating to such “dispute system mechanism”. The literature is also made confused with the fact that a particular boundary line is missing which can restrict the degree of precision scientifically. The researches, thus, mainly suggested that adjudication must be maintained and a disinterested party should perform such process. By this procedure, it will help to achieve gaining reputation by maintaining neutrality and transparency. The researchers also mentioned the fact that DS system strictly imposes restrictions on trading member’s rights to take the “unilateral action”. In this way, the “dispute system mechanism” will perform for the weeken trade agreement and shall mitigate the “welfare of parties jointly”.

Dispute Settling Procedures

The settlement of dispute is the responsibility of the DSB or “Dispute Settlement Body” that is comprised of all the members of the World Trade Organization. The DSB has the sole authority for establishing expert panels for considering the case and for accepting or rejecting the findings of the panels or an appeal’s result. It observes the implementation the recommendations and the rulings and it has the potential for authorizing the retaliation while a country does not fulfil with a decision.

First Stage: Consultation: In dispute the countries require to talk to each other before taking any other actions for seeing if they can make a settlement among their differences by themselves. They can go to the director-general of World Trade Organization to ask for mediating or trying for helping in any other way if they fail.

Second Stage: Panel: The country that makes complaint can go for asking for a panel if the consultations fail. The country can restrict the panel creation once, but while the DSB meets for a twice, the appointment cannot be restricted for a long time.

The panel officially is helping the DSB create recommendations or rulings However, as the report of the panel can be only rejected by the consensus in the DSB, the conclusions are tough for overturning. The final report of the panel should be provided normally to the parties within six months to the dispute. The deadline is become short to three months, including those concerning perishable goods in the cases of urgency.

The agreement demonstrates in few details in what way the panels are for working. The major stages are as follows,

Before the initial heading: In the dispute every portion shows its case in the writing to the panel.

That case to complain defense and country: First Heading: the responding countries, the complaining countries and those have made an announcement that they are interested in that dispute, create their case at the panel’s first hearing.

Rebuttals: the countries those are incorporated in the rebuttals those are submit written and shows the oral arguments at the second meeting of the panel.

Experts: the panel may appoint an expert or consult a review group of experts for preparing a report of advise if the one side raises technical as well as scientific facts.

First Draft: It makes a submission of the report’s descriptive sections to the both sides, providing them 2 weeks for commenting. It does not incorporate the conclusions and findings.

Interim Report: then it makes a submission of an interim report, incorporating the conclusions and findings, to the both of the sides providing them 1 week for asking for a feedback.

Review: the period for review is submitted to the two sides and it is spread to the all members of WTO two weeks later. It recommends that the measure be prepared for conforming the rules of the World Health Organization if the panel takes a decision that the measure of the dispute trade breaks an agreement or an obligation of the World Health Organization.

Becoming the report a ruling: the report becomes the recommendation or ruling of the Dispute Settlement Body within Sixty days unless a consensus removes it. Both the sides can want or appeal for the report.

Retaliation and Compensation

There are two possibilities are fixed in the “Dispute Settlement Understanding”:

It may do a negotiation with the state of complaint for a mutually accepting compensation if a member is failed to carry out the rulings and recommendations within the reasonable period. Compensation is not demonstrated, it can be expected for consisting of a concession’s grant by the state of respondent on a service or a product of interest of the state of complainant.

The prevailing state can request the authorization for suspending the application from the DSB to member concerned of obligations and the concessions under the agreements those are covered, if any agreement on the compensation is reached within the twenty days of the expiration of the reasonable period. The Dispute Settlement Understanding makes a clear understanding that the retaliation is not at all favored and fixes the retaliation criteria.

Developing Countries

The Dispute Settlement Understanding contains various provisions those are directed to the developing countries. Many of the agreements were taken into consideration in the Uruguay Round. This “Dispute Settlement Understanding” conveys that the members of WTO should provide more or special attention towards the issues as well as the interests of the members of the developing countries. Moreover, if a party is a developing country to a dispute, that country is entitled of containing at least one panelist who is coming from a developing country. The consultation time can be extended if a complaint is raised against a developing country. The deadlines for the developing countries for making the submissions can be free if the dispute comes into the panel. The Secretariat is also authorized for making a qualified legal expert present on request to any developing country. the Chairman and the Director-General of the DSB stand readily for offering the good and well-constructed offices of them before a formal panel request is designed, if the formal complaints against least developed countries such as Bangladesh are discouraged as well as the consultations fail.

Bangladesh Economy

The score of the economic freedom of Bangladesh is about 53.9, constructing the country economy the 131st freest in the index of 2015. Bangladesh’s total score has been minimized by 0.2 point with the freedom improvements from economic independence, independence from corruption and labor independence outweighed by the signified declines made in the business independence and the investment freedom.

The economic freedom of Bangladesh has fluctuated over the past five years at the lower end of the category. The improvements of the modest score have taken place in only four of the ten financial freedoms and the total reform policy appears to have stalled.

A usual disregard for a judicial system, rampant corruption and the rule of law from the interference of politics give a weak foundation for the modification of economy. The deteriorating prospects for the near-term improvements in the economic freedom and the momentum for the economic reforms have been diminished by the lack of a national consensus on the future policy change’s direction.

Coneptual Framework

Fig 1: Conceptual Framework

(Source: Created by Author)

Introduction

The tactic implemented through the overall research has been provided in this chapter with few reasoning. Several sections are categorized that incorporate the clarification the selecting the philosophy of positivism research. The reason for choosing the approach of deductive research and the approach of the research is also illustrated in this chapter at the desired part. The overall dissertation is made based on the secondary data collected from several articles and journals and the reason behind it is also clarified. In addition the chapter also has the explanation and a demonstration of the timetable (Gantt chart) and the ethical consideration as well along with the consequences regarding the accessibility.

Investigation Categorization

Research Philosophy

The factors of material those are previously available worldwide and require to be tested in terms of the several scientific methodologies are called the Positivism Philosophy.

The realism meanwhile conveys that the objects those are completely relaxed from the human being aspect. However, on the other hand, at the same time these are the identical objects those are available in the world and are also realized by the human sense.

In addition, the interpretivism is known as the philosophies that is made by the human being publicly through the perception, and do not incorporate any kind of testing of the data.

Clarification to select the positivism research philosophy

The study on the research on the dispute settlement issues of WTO in the context of developing countries goes very closely with the procedure of the deduction that is one prime reason behind selecting the positivism philosophy. The several data or the information hose are of the utmost importance towards the research are gathered from the several books, peer journals and articles those have an in-depth connectivity with the dissertation topic. The World Trade Organization’s global official website was also analyzed in a proper way for gaining success to several financial statements in the perspective of the developing countries especially Bangladesh would determine the financial position and the standings of the countries under the dispute settlement system of the World Trade Organization.

Research Approach

The two of the most common and well known approaches are the inductive and deductive approach. A particular approach or a methodology where the researcher has to ho through the previous research that was implemented on the same matter that is the World Trade Organization Dispute Settlement System is also called the deductive approach.

The data gathering or collection done by several kinds of modes of methods and interaction and then keeping those modes under some examinations that is finally put into some actions is called the inductive process.

Clarification for selecting the deductive approach

The researcher of this dissertation selects the deductive approach of the data collection because the dissertation is completely made based on the secondary data those are mainly gathered or in other words collected from the several websites, journals, articles, books and journals that comes in handy about the topic of the dissertation that is the Dispute Settlement System of World Trade Organization. In addition, this approach of data collection has a in-depth connection with the topic of the dissertation.

Research Design

This section of designing the research has three several ways for selecting from for the researcher those are as follows:

Exploratory Design – The researcher has developed the explanatory design during the time while the researcher faces problems about the complete understanding of the issues and is also containing a fear about the relevant documents.

Explanatory Research – at this section of time the researcher utilizes the explanatory designing approach for proving their statements with the effective and desired examples in order to make a particular relationship among all the different variables those are used during the cause.

Descriptive Design –the researcher always adopts the style of the descriptive research whenever the topic of the dissertation has a wide scope to be researched at that particular point of time.

Justification to select the descriptive design

The research has a huge scope for exploring the several sections of operation of the World Trade Organization and their huge trade related influences on several developing countries especially Bangladesh and different kinds of data or information are gathered in terms of performing the “secondary data collection”. Therefore, the researcher has also considered the descriptive designing style.

Sampling

This whole research is mainly conducted on the basis of the secondary methods of the data collection. Hence, the information or the details gathered by the same is kept into utilized in terms of completing the whole discussion of this particular dissertation successfully.

Data Collection Method – The information for a certain research can normally be gathered or by the 2 several methods those are known as the secondary and the primary data collection methods. This research is comprised only of the “secondary data” and the reason behind it is that the data are gathered only in terms of the “quantitative data”.

Secondary Data Collection – In this particular section the data is gathered from the various journals, books and articles those have an in-depth connectivity with the topic of the research or the dissertation. Furthermore, the website of the World Trade Organization as well as the other various websites consisting of data regarding the Dispute Settlement System can also be utilized to collect data to conduct the research.

Quantitative Data – the data is gathered in this section for determining the several issues faced the developing countries especially Bangladesh and would also be calculated based on that several consequences those are taken from many different books, journals and articles as well. The prime shortcomings of this Dispute Settlement system of the World Trade Organization would also be extracted from the analysis of the data and the other appropriate measures would be also listed for overcoming the same and to discover the way of improving these shortcomings of the Dispute Settlement System over Bangladesh.

Accessibility Issues

The worst part of the various issues faced by Bangladesh in this context that Bangladesh had to bear certain conditions to fight against its neighboring country’s dumping activity. Extracting desired journals and information and surfing of various sites was also a very hectic section for completing. In addition, the several legal formalities was to be taken inconsideration in terms of running the research in a very smooth way.

Time Table (Gantt Chart)

Main activities	1st week	2nd week	3rd week	4th+5th week	6th week	7th week
Topic Selection
Literature review
Research methodology
Secondary data collection
Analysis and data interpretation
Findings
Conclusion and Recommendation
Final submission

Summary

The chapter has provided several important elements of the details about the exact outcome and the purpose of the conduction of the research and the overview of the different techniques and methods as well those are utilized within the overall study of this dissertation. In addition, the Gantt chart provided at the end of this chapter gives an idea to us regarding the systematic way the researcher has implemented the overall research in terms of making the research an actual success.

Introduction

In this chapter, dispute settlement analysis will be conducted in context to Bangladesh. The activities with which WTO is associated will be conducted in this chapter. Several findings will be analyzed and the importance of dispute settlement system will be conducted. For Bangladesh, one of the major dispute related scenario is regarding the differences between anti-dumping laws with India. The findings will relate to a vast consideration of Appealing body and Dispute Settlement Understanding (DSU) authority. Though Bangladesh falls under the least developing country (LDC), still from this analysis it will be found that Bangladesh is the only country that has registered complaints in WTO from time to time, so that trade related concerns are strengthened and economy is widened. Thematic analysis has been conducted for this research. In this process the researcher has created five themes depending on research objectives created in chapter 1.

Findings

Theme 1: WTO Dispute Settlement system in context to Bangladesh

It has been a very common fact among the communities that Dispute Settlement Understanding (DSU) is concentrated to richer nations as such nations are able to comply with staff lawyers, perusing trade problems and develop members. This is because such nations are able to expend more money and time that other nations perhaps may not accumulate. On the other hand, the recent changes in dispute settlement have proved the fact that there will be no discrimination among the countries. The guiding principle for developing countries, especially for Bangladesh has been “every member is equal before the law”, which was designed to lead equal and fairer opportunities for systematic power policies and politics. The system has been improved with more focus on juridical approach and trade disputes where careful analysis of neutral and rule interpretation has been justified for Bangladesh by WTO. Especially for a developing country like Bangladesh, WTO member governments have prepared the “implement panel and Appellate Body rulings” that will relate the rules and regulations in conformity with WTO. According to conventional WTO view, “the increased utilization of the system by developing countries confirms that the multilateral approach protects all Members, not just the large, strong, or rich”. This implies that Bangladesh was been able to get huge justification from WTO.

Theme 2: Problems faced by Bangladesh in past

Bangladesh has been the least developed country (LDC) to bring WTO claim. The international trade is being conducted as per the agreements and rules negotiated at World Trade Organization. Dynamical negotiations are under effect due to trade disputes which are highly regulated by WTO. This has resulted in a great advantage for least developed countries, where Bangladesh is the most benefitted. In consideration to trade, significant duties were imposed by the neighboring country such as India on Bangladesh. Bangladesh has been undergoing weaker economy than India and thus it was not able to fight against the later country. It was found that Bangladesh had to bear certain conditions to fight against its neighboring country’s dumping activity. The first was that there would be single statutory authority who would deal with territorial squabbles and difference of opinions. Second was that exporters must have agreed to comply with statutory authority. Third was that there would have been modicum of expertise that would mount a legal challenge. Political will would have pursued the dispute till the end. Finally, there must have been adequate fund to pursue the dumping case till the end.

Bangladesh roused this concern towards WTO. The WTO Advisory Centre prepared the request of Bangladesh with WTO consultants to undertake the pursuant of provisions regarding WTO Dispute Settlement. The international disputes between the nations were finally put the end after general assistance from Advisory centre, or otherwise it would have been very difficult for Bangladesh to seek redress in the WTO.

Theme 3: Reason behind implementation of dispute settlement

Bangladesh is the growing nation but its economy is not so much strong. In consideration to other developing nations such as India, the political scenario of Bangladesh is quite different. One of the most important factors for dispute settlement is the completion of nation’s governance. Both the political and economic stratus of Bangladesh is not strong enough to raise its bar and fight against trade barriers. It is quite natural that trade barriers will mainly be concerned with industries of a nation. If the government of a nation does not support the dispute settlement they nation will not be able to develop. In the recent years, government of Bangladesh is not quite stable. The nation is facing several political discrepancies and the number of opposition parties is constantly increasing. Thus, the government is not able to stick confirm on the fact that whether it will be able to seek help from WTO or DSU in the recent future. For own beneficiary, opposition parties are constantly engaged with raising a dispute but is not letting the ruling party to take further step to settle the trade related disputes.

In consideration to above discussion, it has been found that Bangladesh has been still able to settle much of its disputes as the current government has thought of raising complaints to WTO. In consideration to global picture, more than 155 formal complaints have been raised up by developing nations from 35 different developing countries, out of which 5 complaints have been raised up by Bangladesh only. 59% of the complaints have been resolved by the WTO but the rests are under process. It has been quite sure that Bangladesh will take a huge amount of time to develop itself in terms of economy and for that the current government has to take care of dispute settlement. As WTO is always trying to sustain a positive outcome from Appellate Body, hence a developing country like Bangladesh will be able to surely develop its

Theme 4: Past and present situation of Bangladesh in context to World Trade Market

Out of all the activities and complaints registered by the countries and members regarding trade, more than 60% have been raised up by Bangladesh. The other countries such as African members other than South Africa and Egypt, has not complained or cited for alleged violation by others. From here it can be understood that the largest percentage of disputes are been raised by Bangladesh only. If the past is considered, then it can be found that the highest supply for Bangladesh was gained from India alone. Much of the economy of Bangladesh was supported by India alone. The educational institutes and industrial trades were much supported by India. At present the textile industry of Bangladesh is rapidly growing in Bangladesh and hence much of textile goods are exported from the nation. This has enhanced the trade market of the country.

Earlier, Bangladesh was not developed in any of the industrial sectors. On the other hand, it was the neighboring country India that impacted the most in trading with Bangladesh. The imports from India were found to be less than one-quarter from other countries in consideration to Bangladesh. The trade liberation policies impacted a huge of the total imports of Bangladesh. The trade liberation policy of India was smaller on exports from Bangladesh to India. The exports increased from US$31million to US$144 million from the year 2004 to 2005. A large amount of trade deficit was found to be in between Bangladesh and India as US$1.9 billion was the export of India towards Bangladesh and for Bangladesh it was just US$113million. A large amount of trade imbalance was found to be in between the two countries. In the same context it was found that India used to dump huge amount of battery in Bangladesh that forced the country to seek help from DSU. The trade market of Bangladesh has developed a lot in the recent years and it has stepped towards exports of its textile goods to the whole of US. As the government is only responsible for WTO deliberations, hence the Bangladesh Prime Minister Sk Hassina has developed its relations with WTO for smooth functioning of industrial trades.

Theme 5: Working of DSU for Bangladesh

Much of the mechanisms of WTO have been changed in the recent years. The explicit threats of the developing nations have been changed a lot. Because of political and economic arm-twisting activities of Bangladesh, several disputes of industries are solved by WTO. In the year 2004, Bangladesh has become embroiled with the WTO trade dispute with regards to its neighboring country, India. The export trade was quite diversified and the anti-dumping duties were made stronger. Bangladesh had to enhance its economic status to a great extent and for that it had to seek help from WTO. The Dispute Settlement Authority of Bangladesh had to twist the negotiations and settlements beyond the consultation stage regarding diversifying its economy and export trade. At present Bangladesh is the only developing country that is generating complaints in WTO for fair trade with other nations.

Summary

From the above data analysis, it can be summarized that the trading related activities of Bangladesh are quite stronger from the past. As the industrial trading is not limited to a nation particularly, much of the export related activities of Bangladesh are under process for better stability and conformity. It has been found that Bangladesh is the only developing nation that has registered so many complaints regarding fair trading in WTO with the help of DSU. It can even be said that WTO is not limited to rich nations and is fair enough to justify each of the developing nations. Still some of the developing nations are not registering complaints in WTO, which may be due to political discriminations.

Conclusion

After conducting the researcher, it can be concluded that World Trade Organization is a governmental organizational deals with international business between nations. In order to establish business relationship, countries are focused on maintaining some legislation imposed by this governmental organization. As this process is complex and lengthy, WTO is facing different issues while handling international business between developing countries. The organization is especially facing issues regarding international business while handling business dealings of Bangladesh. The major issue faced the organization while handling international business practices o Bangladesh is high cost of international business. Excessive living cost of people is harming living standard of people, thus organizations are targeting international market for increasing flow of foreign currency. Moreover, the developing countries are best place of the developing countries to expand business globally. Developing country can provide cheap labor force, which helps in increasing business profitability. Therefore, WTO is implementing Dispute Settlement Process for reducing issues of international business faced by Bangladesh. 

Recommendations

Dispute Settlement Process refers to the process of monitoring international business practices of two countries for identifying and reducing possible risk factors. It helps in maintaining the world economy and international tread practices in an effective manner. However, World Tread Organization is facing issues, which needs proper monitoring and solution for improving business practices of Bangladesh. Following are the recommendations for reducing issues faced by WTO Dispute Settlement Process.

Recommendation 1: Cutting down cost of living for improving living standard

It is important to reduce market price of imported goods by lowering down the tax amount. It will help the organization to reduce living cost of people in developing country. In this process, it will be possible for WTO to increase business investment of the entire country. Leaving standard of the society will directly facilitate the business growth and export practice of developing country. Increasing profitability of the developing country will be possible by implementing this particular strategy. Developing countries should comply with the imposed legislations for improving economical condition. Increasing investment of the developing countries can facilitate the developing countries in increasing profitability in international market.

Recommendations 2: Settlement of dispute for reducing trade tensions

Dispute in business practices is the major reason, which is creating barriers for WTO in handling international business of Bangladesh. Therefore, WTO should pay close attention to the trade documents of Bangladesh for reducing dispute. For an example, monitoring tax related issue is one of the most effective processes, which WTO should conduct. This will help companies of developing countries to reduce business risk in international market. Apart from that, WTO should impose more strict legislations for improving business practices of developing countries. In order to reduce business tension, developing countries should maintain strong agreement with international countries for conducting healthy business.

Recommendation 3: Stimulating employment and economic growth

World Trade Organization’s Dispute Settlement Process should increase employment of developing country by imposing policies and procedures. In this process, the WTO should focus on economic growth of developing countries such as Bangladesh. International business in Bangladesh should recruit their workforce from the targeted country. This policy will effectively reduce long-term employment of the developing countries thus; it is effective for increasing economical aspects. If the companies generate profit, then it will be possible to open more opportunity of job position. Therefore, WTO should reduce business issues of international businesses in Bangladesh for enabling then in increasing recruitment.

Reference List

Atik, J. 2011. Democratizing the WTO. SSRN Electronic Journal.

Baker, B.K., 2012. Settlement of India/EU WTO dispute re seizures of in-transit medicines: why the proposed EU border regulation isn't good enough.Northeastern University School of Law Research Paper, (81-2012).

Bartels, L. 2013. Procedural Aspects of Shared Responsibility in the WTO Dispute Settlement System. Journal of International Dispute Settlement, 4(2), pp.343-359.

Bernauer, T. and Sattler, T. 2011. Sind WTO-Konflikte im Bereich des Umwelt- und Verbraucherschutzes eskalationsträchtiger als andere WTO-Konflikte?. ZIB, pp.5-37.

Bown, C.P. and Reynolds, K.M., 2015. DP10571 Trade Agreements and Enforcement: Evidence from WTO Dispute Settlement.

Bown, C.P., 2014. Trade Policy Flexibilities and Turkey: Tariffs, Anti‐dumping, Safeguards and WTO Dispute Settlement. The World Economy,37(2), pp.193-218.

Bown, C.P., 2014. Trade Policy Flexibilities and Turkey: Tariffs, Anti‐dumping, Safeguards and WTO Dispute Settlement. The World Economy,37(2), pp.193-218.

Bronckers, M. and Baetens, F., 2013. Reconsidering financial remedies in WTO dispute settlement. Journal of International Economic Law, p.jgt014.

Brutger, R. and Morse, J.C., 2015. Balancing law and politics: Judicial incentives in WTO dispute settlement. The Review of International Organizations, 10(2), pp.179-205.

Buler, M. and Hauser, H. 2012. The WTO dispute settlement system. St. Gallen: Forschungsgemeinschaft für Nationalökonomie an der Universität St. Gallen.

Busch, M.L. and Pelc, K.J., 2015. Dispute Settlement in the WTO. The Oxford Handbook of the Political Economy of International Trade, p.400.

Carvalho, M. 2015. Environmental Dispute Settlement under UN System. SSRN Electronic Journal.

Cosmas, J. 2015. Improving the Legitimacy of Investor “ State Dispute Settlement System: Can the WTO DSU System Act as a Model?. ILR, 4(1).

Crawford, J. 2011. Continuity and Discontinuity in International Dispute Settlement: An Inaugural Lecture. Journal of International Dispute Settlement, 1(1), pp.3-24.

Davis, C. and Shirato, Y. 2011. Firms, Governments, and WTO Adjudication: Japan's Selection of WTO Disputes. World Pol., 59(02), pp.274-313.

Finger, J. 2011. Maintaining WTO Discipline: Procedural Guidelines Versus Economic Substance in GATT/WTO Safeguards. SSRN Electronic Journal.

Fukunaga, Y. 2012. Standard of Review and 'Scientific Truths' in the WTO Dispute Settlement System and Investment Arbitration. Journal of International Dispute Settlement, 3(3), pp.559-576.

Gallagher, P. 2012. Guide to dispute settlement. London: Kluwer Law International.

Grant, T. 2013. Editorial: Argument and Decision in a Developed System. Journal of International Dispute Settlement, 4(3), pp.421-438.

Hoekman, B. 2015. The political economy of the world trading system. Oxford: Oxford University Press.

Horlick, G. 2015. The Wto Dispute Settlement Mechanism. The Journal of World Intellectual Property, 4(2), pp.287-289.

Iwasawa, Y., Carmody, C. and Kearns, J. 2014. The WTO.

Janow, M., Donaldson, V. and Yanovich, A. 2012. The WTO. Huntington, NY: Juris Publishing, Inc.

Jo, H. and Namgung, H., 2012. Dispute Settlement Mechanisms in Preferential Trade Agreements Democracy, Boilerplates, and the Multilateral Trade Regime. Journal of Conflict Resolution, 56(6), pp.1041-1068.

Josling, T. 2011. The WTO: What Next? L'OMC: et apr? Die WTO: Was nun?. EuroChoices, 6(2), pp.6-12.

Koops, C. 2014. Manipulating the WTO? Challenging Undervalued Exchange Rates Under WTO Rules. SSRN Electronic Journal.

Kulovesi, K. 2011. The WTO dispute settlement system. Alphen aan den Rijn: Wolters Kluwer Law & Business.

Lacey, S. 2015. WTO Accession from the Perspective of WTO Members: The View from the Other Side of the Table. SSRN Electronic Journal.

Lee, D. and Wilkinson, R. eds., 2013. The WTO after Hong Kong: progress in, and prospects for, the Doha Development Agenda. Routledge.

Leitner, K. and Lester, S., 2012. WTO Dispute Settlement 1995–2011—A Statistical Analysis. Journal of International Economic Law, p.jgs009.

Limenta, M. 2013. Non-Compliance in WTO Dispute Settlement: The Multiple Purposes of WTO Retaliation. SSRN Electronic Journal.

Marceau, G. and Hawkins, J. 2012. Experts in WTO Dispute Settlement. Journal of International Dispute Settlement, 3(3), pp.493-507.

McRae, D., Naiki, Y. and Matthews, D. 2011. The WTO.

Mitchell, K.M., 2012. The participation and success of developing countries in WTO disputes. THE UNIVERSITY OF TEXAS AT DALLAS.

Mitchell, K.M., 2013. Developing Country Success in WTO Disputes. Journal of World Trade, 47(1), pp.77-104.

Mossner, L. 2014. The WTO and Regional Trade: a family business? The WTO compatibility of regional trade agreements with non-WTO-members. World Trade Review, 13(04), pp.633-649.

Naldi, G. 2014. The ASEAN Protocol on Dispute Settlement Mechanisms: An Appraisal. Journal of International Dispute Settlement, 5(1), pp.105-138.

Narlikar, A., Daunton, M. and Stern, R.M. eds., 2012. The Oxford Handbook on the World Trade Organization. Oxford University Press.

Orozco, C. 2015. The Wto Solution. The Journal of World Intellectual Property, 4(2), pp.245-249.

Ortino, F. and Petersmann, E. 2014. The WTO dispute settlement system, 1995-2003. The Hague: Kluwer Law International.

Palmeter, D. 2015. The Wto Dispute Settlement Mechanism. The Journal of World Intellectual Property, 4(2), pp.291-294.

Palmeter, N. and Mavroidis, P. 2014. Dispute settlement in the World Trade Organization. Cambridge, UK: Cambridge University Press.

Petersmann, E. 2011. International trade law and the GATT/WTO dispute settlement system. London: Kluwer Law International.

Reinisch, A. 2011. How Narrow are Narrow Dispute Settlement Clauses in Investment Treaties?. Journal of International Dispute Settlement, 2(1), pp.115-174.

Reynolds, K.M. and Bown, C.P., 2015. Trade Agreements and Enforcement: Evidence from WTO Dispute Settlement (No. 2015-04).

Sacerdoti, G., Yanovich, A. and Bohanes, J. 2015. The WTO at ten. Cambridge: Cambridge University Press.

Serra Puche, J. and Kallab, V. 2012. Reflections on regionalism. Washington, DC: Carnegie Endowment for International Peace.

Shadikhodjaev, S. 2012. Retaliation in the WTO dispute settlement system. Alphen aan den Rijn, The Netherlands: Kluwer Law International.

Shaffer, G., Mosoti, V. and Qureshi, A. 2013. Towards a development-supportive dispute settlement system at the WTO. Geneva: International Centre for Trade and Sustainable Development.

Ulfstein, G. 2013. Awarding Compensation in a Fragmented Legal System: The Diallo Case. Journal of International Dispute Settlement, 4(3), pp.477-485.

Weiss, F. 2011. Improving WTO dispute settlement procedures. London: Cameron May.

Westermeier, A. 2014. WTO Rights and Human Rights in the WTO Arbitration (WTO-Rechte und Menschenrechte im WTO-Schiedsverfahren). SSRN Electronic Journal.

Wilson, D. 2011. A Study on the Settlement of Dispute through ODR Dispute Mediation System. International Commerce and Information Review, 10(2), pp.45-62.

Wto.org, (2016). World Trade Organization - Home page. [online] Available at: https://www.wto.org/ [Accessed 16 Jan. 2016].

Yerxa, R. and Wilson, B. 2015. Key issues in WTO dispute settlement. Cambridge, UK: Cambridge University Press.