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?
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
