Research On Dispute Settlement In Regional Trade Agreements

Regional trade agreements are based on the rules of the world trade organization,which allow members to deviate from the most favored nation treatment principle and give some members more preferential trade treatment.At present,the arrangement of regional economic integration has become an important economic growth engine respected by all countries in the world.More and more countries and regions join the wave of regional economic integration.Such as the comprehensive economic and trade agreement(CETA)between the European Union and Canada,Comprehensive Progressive Trans-Pacific Partnership(CPTPP)signed and entered into force between the remaining 11 countries led by Japan after the withdrawal of the United States from the TPP,and a series of free trade agreements between the world's major economies,represented by the United States,Mexico,and Canada(USMCA),are emerging.The development trend of regional trade agreements is in full swing,which is in sharp contrast with the stagnation of multilateral negotiations of WTO.In many systems of regional trade agreements,the dispute settlement mechanism can restrict the parties to fulfill their obligations under the agreement,maintain the authoritative status of regional trade rules,promote the development of regional economic integration,promote the effective cooperation between members,has become a very important system.The dispute settlement mechanisms in regional trade agreements usually include the investment dispute settlement mechanism between the investor and the host country,and the general dispute settlement mechanism between the parties concerning the interpretation and application of the FTA.Among the above three regional trade agreement dispute settlement mechanisms,the general dispute settlement mechanism has many similarities with the WTO dispute settlement mechanism in its main provisions,but it has its own characteristics in value orientation,jurisdiction and specific procedures.The investment dispute settlement mechanism has some reference and absorption toICSID mechanism,but it shows obvious difference in specific provisions.With the current WTO dispute settlement mechanism in deep trouble and the international investment dispute settlement mechanism facing reform,it is of great significance to conduct such research.As an active participant in regional economic integration arrangements,China has signed higher and higher levels of regional trade agreements and more extensive topics,but at the same time the problems of its dispute settlement mechanism have gradually become more prominent.The excellent results of the dispute settlement mechanism of the above-mentioned regional trade agreements have helped the construction of the “Belt and Road” legal environment and the output of legal texts in accordance with national interests.