The Bolivarian Republic of Venezuela denounces to the World Trade Organization (WTO) the illegal commercial practices of the United States and Colombia and will soon request an Arbitration Forum.
Since March, the country invoked the WTO Dispute Settlement mechanism in the face of illegal trade practices in the United States and Colombia, both in the trade in hydrocarbons and in other goods and services, including crypto-assets, according to a press release issued by the Venezuelan chancellory.
Also, it was known that the country will soon request to establish an Arbitration Forum within the WTO, in a claim against these commercial practices qualified by the organization as disloyal.
Venezuela had requested to the WTO the start of the procedure called Difference Consultation, a conciliatory formula that the United States accepted at first, however, they did not respond within the deadlines set. Colombia, for its part, has not even responded to the proposed request for consultations.
Due to this lack of answers, Venezuela will refrain from invoking the mechanism for the establishment of Special Groups to resolve the dispute; and based on the Dispute Settlement Rules and Procedures that rule the WTO, it will advance directly to the establishment of an Arbitration Forum.
This Arbitration Forum commits the claimed countries to the responsibility of giving answers, because it is a mandatory requirement before the WTO, whose position complies with the provisions established by the United Nations Organization.