Asked by abdulbaset charsi on Jul 17, 2024

verifed

Verified

A World Trade Organization (WTO) member country must offer to all other member countries:

A) common market guarantees.
B) the same trade concessions.
C) the same basket of commodities.
D) import substitutions.
E) the same resources with equal efficiency.

World Trade Organization

An international organization that regulates trade between nations, aiming to ensure trade flows as smoothly, predictably, and freely as possible.

Trade Concessions

Agreements or compromises in international trade where one country offers reductions in tariffs or other trade barriers to another country, often to foster better relations or gain economic benefits.

Member Country

A country that is part of a larger group or organization, such as the United Nations, the European Union, or any other international coalition with specific membership criteria.

  • Comprehend the functions and goals of global trade organizations and accords in promoting international commerce.
verifed

Verified Answer

EK
Elizabeth KatherineJul 22, 2024
Final Answer :
B
Explanation :
A WTO member country must offer the same trade concessions to all other member countries. This is known as the principle of nondiscrimination or most-favored-nation (MFN) treatment. Under this principle, any advantage, favor, privilege, or immunity granted by a WTO member to a product originating from or destined for any country must be extended immediately and unconditionally to the like product originating from or destined for all other WTO member countries. This means that a WTO member cannot discriminate between its trading partners, and must treat them all equally in terms of market access and trade opportunities.