Q. Consider the following statements regarding “World Trade Organization”:
1.The Ministerial Conference is the highest decision-making body of WTO.
2.All decisions are taken through consensus and any member can exercise a veto.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: C
Notes:

Explanation: WTO operates a global system of trade rules, acts as a forum for negotiating trade agreements, settles trade disputes between its member countries and it supports the needs of developing countries.

  • The Ministerial Conference is the highest decision-making body, where members are represented by its trade ministers, which meets every 2 years.
  • All decisions are taken through consensus and any member can exercise a veto.

Source: FORUMIAS

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