S. Korea calls for normalization of WTO's dispute settlement

SEOUL, March 22 (Yonhap) -- South Korea called Monday for the normalization of the World Trade Organization (WTO) during a meeting with a group of countries supporting the multilateral trading regime, dubbed the Ottawa Group. During the virtual ministerial meeting, Trade Minister Yoo Myung-hee and her counterparts of other participating countries called for the prompt normalization of the organization's role in settling trade rows, according to the Ministry of Trade, Industry and Energy. The Ottawa Group refers to a group of 14 members of the WTO seeking to revamp the international trade body, including South Korea, Canada, Australia, Chile and Britain. The dispute-settlement role of the WTO has been suspended since December 2019 as the Trump administration declined to name new members of the appellate body. The group said the WTO needs to cooperate with the new Biden administration of the United States to promptly normalize its full function. The member countries vowed to minimize the imposition of restrictions on international travel and trade amid the COVID-19 pandemic as well. Trade ministers of the Ottawa Group also shared ideas on the agenda for the upcoming 12th ministerial conference of the WTO, which is slated for November this year. colin@yna.co.kr (END)