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Investing.com -- Guatemala and Peru have reached a resolution in their trade dispute concerning agricultural products, according to an announcement made by the World Trade Organization (WTO) on its website Thursday.
The two countries submitted a notification to the WTO’s Dispute Settlement Body, indicating they have found a "mutually agreed solution" to their conflict. The WTO stated that such a resolution can be achieved at any stage during the dispute settlement process.
The WTO’s Dispute Settlement Body serves as a platform for member countries to resolve their trade disputes. In this case, Guatemala and Peru utilized this mechanism to settle their disagreement over the trade of agricultural products. The specifics of the mutually agreed solution were not detailed in the announcement.
The resolution of this dispute exemplifies the WTO’s role in facilitating dialogue and negotiation between member countries to manage and resolve trade conflicts.
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