Australia and China have reached a mutually agreed solution in their dispute over wine duties. On March 29, both countries submitted a notification to the World Trade Organization's (WTO) Dispute Settlement Body regarding dispute DS602, titled "China — Anti-Dumping and Countervailing Duty Measures on Wine from Australia." This notification was shared with WTO members on April 3.
The resolution of this dispute aligns with the WTO's framework that allows parties to settle disputes by finding mutually acceptable solutions. Such solutions must comply with the relevant WTO agreements and should not negate or diminish benefits owed to other members under these agreements. The parties involved are required to inform the Dispute Settlement Body as well as pertinent councils and committees about any resolutions they reach.
For further details, interested parties can refer to document WT/DS602/8.
The WTO is responsible for overseeing global trade rules among nations, aiming to ensure that trade proceeds smoothly, predictably, and freely.