Originally from:
The WTO: Governance, Dispute Settlement & Developing Countries
The WTO: Governance, Dispute Settlement & Developing Countries-Digital
Chapter 44 - Preview Page
Panel Discussion: Considering Remedies
Kyle Bagwell, Gary Horlick, Robert Lawrence, Bruce Wilson, Alan Wolff
PROFESSOR BAGWELL: Welcome to today’s session on considering remedies. Let me begin, like everyone else has, by thanking Merit for organizing this amazing conference, and for giving me a chance, despite having worked next door for ten years, to come inside this building and enjoy the amazing facilities. This is a first for me.
If you are going to have a cooperative relationship, such as the one that the WTO tries to formalize, then there must be some sort of punishment in the event that parties act in an opportunistic manner. This naturally leads one to think about the WTO dispute settlement system and the remedies that are imposed. When a party fails to meet its obligations in the WTO, as you know, the first preference is that it remove the offending measure. Failing that, the second option is that some sort of compensation be negotiated between the complainant and the infringing party. If that fails, the complainant may be authorized to retaliate and inflict punishment in that form. The compliance record of WTO Members is widely perceived as good, but several issues remain and a number of proposals for improving remedies have been made as part of the ongoing DSU negotiations. Several of the proposals are quite provocative and far-reaching.
About the Authors:
Kyle Bagwell is Kelvin J. Lancaster Professor of Theory in the Department of Economics and Professor of Finance and Economics in the School of Business at Columbia University.
Gary Horlick a Partner at WilmerHale.
Robert Lawrence is the Albert L. Williams Professor of Trade and Investment at the John F. Kennedy School of Government at Harvard University.
Bruce Wilson Director of Legal Affairs Division of the WTO Secretariat.
Alan Wolff is a member of Dewey Ballantine's Management Committee and Managing Partner of the Firm's Washington, DC office.