International Relations · Global Organizations
Consider the following statements regarding the World Trade Organization (WTO): Statement I: The Most-Favoured-Nation (MFN) principle under the WTO ensures that any trade advantage granted by a member country to one country must be extended to all other WTO members equally. Statement II: Plurilateral agreements under the WTO framework are binding on all member countries and replace the consensus-based decision-making system. Which one of the following is correct in respect of the above statements?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement I is incorrect, but Statement II is correct.
- 2Statement I is correct, but Statement II is incorrect.✓
- 3Both Statement I and Statement II are correct, but Statement II is not the correct explanation for Statement I.
- 4Both Statement I and Statement II are correct, and Statement II is the correct explanation for Statement I.
Correct answer
Statement I is correct, but Statement II is incorrect.
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