Recognizing the numerous benefits of international trade to the economies of all World Assembly member nations,
Regretting that trade disputes between member nations serve as a barrier to international trade, resulting in severe political and economic consequences,
Believing that it is therefore in the World Assembly’s interest to establish an impartial mediation and arbitration body tasked with resolving international trade disputes,
Realizing that failing to do so would constitute a extreme hazard to national populations,
The General Assembly,
1 Mandates that all member nations involved in a trade dispute enter into independent bilateral or multilateral negotiations, as appropriate, for a reasonable length of time in order to make a good faith attempt to peacefully and amicably resolve the issue;
2 Extends the mandate of the World Assembly Trade Commission to include non-binding mediation and binding arbitration services for international trade disputes rooted in a member nation’s violation of international trade law or its own national laws;
3 Clarifies that such mediation and arbitration may only occur:
a with the initial explicit, uncoerced consent of all the member nations involved in the dispute, and
b after any independent bilateral and multilateral negotiations have failed;
4 Stipulates that such mediation and arbitration must proceed as follows:
a the World Assembly Trade Commission must assemble a mediation or arbitration panel, consisting of unbiased adjudicators with the required qualifications and experience to fulfill their duties,
b the member nation which requested mediation or arbitration must present the panel with a legitimate allegation that a member nation involved in the dispute has violated international trade law or its own national laws, and that this violation is a chief cause of the dispute,
c each member nation involved in the dispute may present arguments and evidence pertaining to this allegation to the panel, and must comply with any reasonable request made by the panel for evidence necessary to make an informed ruling on the allegation,
d the panel will consider all evidence presented and present a ruling detailing whether the allegation is true, as well as any actions on the part of member nations required to remedy the issue,
e any member nation involved in the dispute may appeal a recommendation or ruling by the panel, on the grounds that the evidence presented was improperly considered, to a separate appellate panel, which will release a final ruling or recommendation based exclusively on the evidence presented to the original panel;
5 Authorizes the World Assembly Trade Commission to impose any applicable financial penalties on member nations which consented to the arbitration process but refused to comply with a final ruling by an arbitration panel or its corresponding appellate panel, as appropriate.