Comprehension

Read the following passage and answer the question that follows.
There are no World Trade Organisation (WTO) defi nitions of "developed" and "developing" countries. Members announce for themselves whether they are "developed" or "developing" countries. However, other members can challenge the decision of a member to make use of provisions available to developing countries. Developing country status in the WTO brings certain rights. There are for example provisions in some WTO Agreements which provide developing countries with longer transaction periods before they are required to fully implement the agreement and developing countries can receive technical assistance. That a WTO member announces itself as a developing country does not automatically mean that it will benefi t from the unilateral preference schemes of some of the developed country members such as the Generalized System of Preferences (GSP). In practice, it is the preference giving country which decides the list of developing countries.

Question: 1

Who decides whether one country is developing or developed ?

Updated On: Oct 9, 2024
  • The World Trade Organization
  • The neighbouring countries
  • The country itself
  • The preference giving country
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The Correct Option is C

Solution and Explanation

The Correct Option is (C):The country itself
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Question: 2

 Who can change the decision of a country to make use of provisions available to developing countries ?

Updated On: Oct 9, 2024
  • The World Trade Organization
  • The neighbouring country
  • Any member country of WTO
  • The preference giving country
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The Correct Option is C

Solution and Explanation

The Correct Option is (C):Any member country of WTO
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Question: 3

Why would a country like to announce itself as a developing country ?

Updated On: Oct 9, 2024
  • So that it can become member of WTO
  • So that it need implement WTO agreements
  • So that it gets some relaxation of time in implemenation WTO agreements
  • So that it can become the preference giving country
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The Correct Option is C

Solution and Explanation

The Correct Option is (C):So that it gets some relaxation of time in implemenation WTO agreements
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