With reference to World Trade Organisation rsquo s WTO developing country status consider following ...........

Economic Affairs World Trade Organsiation (WTO)

With reference to World Trade Organisation’s (WTO) developing country status, consider following statements

The WTO clearly define countries as ‘developing’ or ‘developed’.
Some WTO agreements give developing countries special benefits and rights, which are referred to as “special and differential treatment provisions”.
A country that announces itself as ‘developing’ does not automatically benefit from unilateral preference schemes under WTO.

Select the correct statement.

1&2 only

2&3 only

1&3 only

All of the above

The WTO doesn’t define countries as ‘developing’ or ‘developed’. Member nations themselves are required to declare which category they fall under. However, these declarations can be challenged by other member nations.
Over two-thirds of WTO’s 164 member countries are developing countries.
Some WTO agreements give developing countries special benefits and rights, which are referred to as “special and differential treatment provisions”. These provisions include a longer time period for implementing agreements and commitments or measures to increase trading opportunities for developing countries.
Essentially, under these agreements, developed countries may treat developing countries more favourably than other WTO members. However, a country that announces itself as ‘developing’ does not automatically benefit from unilateral preference schemes.

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