Morocco Calls for Enhancing Cooperation in Trade Dispute Settlement

Acting Minister of Tourism, Industry, Trade, Investment and Digital Economy, Moulay Hafid Elalamy, called Monday in Casablanca for strengthening cooperation among the member States of the Organization of the Islamic Conference (OIC) in the settlement of trade disputes.

The settlement of trade disputes is an important tool in strengthening the legal apparatus governing trade relations between the OIC member States through the establishment of effective legal mechanisms as a framework guaranteeing the rights and interests of these States within the framework of trade agreements, M. Elalamy said at the opening of a workshop on “Methods of settlement of trade and investment disputes between the OIC member States”.

In a speech read on his behalf, the minister said that the dispute settlement system through reconciliation and arbitration within the framework of the World Trade Organization (WTO) is a fundamental pillar to strengthen the multilateral commercial regime.

He also stressed the need to take advantage of the experiences of specialized bodies in this field in order to improve the legal effectiveness of the trade agreements binding the OIC Member States.

Source :Morocco World News