Manama, March 22 (BNA): Chairman of the Board of Trustees of the Bahrain Center for Strategic, International and Energy Studies (Derasat).
Dr. Shaikh Abdullah bin Ahmed Al Khalifa praised the permanent relations, cooperation and friendly relations between the Kingdom of Bahrain and the Republic of Korea.
He praised the steadily growing relations in various fields, especially in industry, trade and investment. He stressed the Kingdom’s continuous approach to increasing and advancing bilateral cooperation to achieve prosperity for the two countries and peoples.
The statement was delivered on the sidelines of the “Think Talk” lecture series delivered today by the Ambassador of the Republic of Korea to the Kingdom of Bahrain, Chung Hye-kwan, entitled “The Optimal Use of the WTO Dispute Settlement System: The Korean Experience as a Model.”, to an audience of officials and studies partners, with representatives of interested parties.
Sheikh Abdullah valued more than four decades of close friendly relations that brought the two countries closer, after they flourished with the support and patronage of His Majesty King Hamad bin Isa Al Khalifa and Korean President Yoon Seok Yul.
The Kingdom of Bahrain highly appreciates the development of its relations with the Republic of Korea, and this is evident in the mutual visits of various common interests, as well as pride in popular diplomacy through the establishment of the Bahraini-South Korean Friendship Association in 2022.
The Bahrain Authority for Culture and Antiquities also celebrated the 45th anniversary of diplomatic relations between Bahrain and South Korea, a period that witnessed high and continuous growth in several aspects, especially in the volume of trade exchange, which reached one billion US dollars in 2022. .
During the lecture, Ambassador Chung described the primary objective of the book as explaining ways to settle trade disputes within the framework of the World Trade Organization in a comprehensive and simplified manner.
He stressed the importance of the World Trade Organization’s role in settling disputes to achieve tangible results, in addition to providing fair and legitimate opportunities for the parties to the dispute. He also talked about how to ensure the voluntary participation of states and the acceptance of provisions.
Ambassador Chung also pointed out that the international community’s attempts to establish a world trade organization date back to the period after World War II, when the international community succeeded in drawing up the General Agreement on Tariffs and Trade (GATT) in 1947.
He described the arbitration mechanism in the current WTO as being carried out through a dispute settlement body composed of representatives from member states.
It is worth noting that the lecture was inspired by Ambassador Chung’s latest publication entitled “The World Trade Organization: The Story of Conflict Settlement”.
The Ambassador provided comprehensive and scientific knowledge of the most prominent WTO laws and practices in dispute settlement, based on his own experience of nearly a decade with the organization.
He highlighted the key role and optimal use of the dispute settlement system in international trade, and the Korean experience in harnessing this system as an important trade policy.
The lecture is part of the “Think Talks” series that Derasat regularly organizes, in which it hosts local, Arab and international thinkers to present and discuss various issues.
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