Consider the following statements regarding WTO:

1. Under the WTO system, generally, countries are designated as developed, developing, and least developed countries (LDCs).
2. There are certain criteria defined by the WTO to be designated as developed and developing countries.
3. Other member countries can challenge the decision of a member to make use of provisions available to developing countries.

Select the correct statement.

• Under the WTO system, generally, countries are designated as developed, developing, and least developed countries (LDCs). Hence statement 1st is correct.
• There are no WTO definitions of “developed” and “developing” countries. Members announce for themselves whether they are “developed” or “developing” countries. Hence statement 2nd is incorrect.
• However, a country that announces itself as ‘developing’ does not automatically benefit from unilateral preference schemes and other members can challenge the decision of a member to make use of provisions available to developing countries. Hence statement 3rd is correct.

By: Shubham Tiwari