EU Calls For Urgent Reform Of WTO

EU Executive Vice President Valdis Dombrovskis pleaded for urgent reform of the World Trade Organization, saying it was high time for change at the global trade body.<br />Dombrovskis says he was ready to consider a major shake-up of the WTO’s dispute settlement system.<br />He says the face of trade has changed considerably since the foundation of the WTO in 1995 adding that the rules that govern the organisation have not.<br />He says the WTO is caught between a rock and hard place. Its negotiating function is paralysed. Its dispute settlement system is frozen.