International Trade Law: WTO Agreements and National Treatment

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What is required for a state to join the WTO through the accession process?

Signing a free trade agreement with a current WTO member

Approval by the United Nations

Obtaining permission from the World Bank

Satisfying domestic legal requirements within the state (correct)

Which of the following is an example of a WTO member that is not a 'state'?

United States of America

United Kingdom

European Union (correct)

Australia

How long did it take China to finalize the terms of its WTO accession?

Less than 5 years

Exactly 20 years

More than 15 years (correct)

Around 10 years

When did the Kingdom of Saudi Arabia become a member of the WTO?

11 December 2005 Signup and view all the answers

Which state did not become a member of the WTO when it was born in 1995?

Yugoslavia Signup and view all the answers

What was the predecessor of the World Trade Organization (WTO)?

The General Agreement on Tariffs and Trade (GATT) Signup and view all the answers

What was the last and largest round of GATT that led to the creation of the WTO?

The Uruguay Round Signup and view all the answers

What are the three broad areas of trade that the WTO covers?

Goods, Services, and Intellectual Property Signup and view all the answers

What is the main function of the WTO in relation to trade disputes?

To facilitate negotiations for a settlement Signup and view all the answers

When did the World Trade Organization (WTO) come into being?

January 1, 1995 Signup and view all the answers

What majority is required for the accession of a new member to the WTO?

Two-thirds majority Signup and view all the answers

In practice, how does accession of a new member to the WTO typically occur?

By consensus among existing members Signup and view all the answers

What fundamental principle is the foundation of the multilateral trading system according to the text?

Trade without discrimination Signup and view all the answers

What does the 'most favored nation' principle under WTO agreements entail?

Treating other people equally Signup and view all the answers

What is one potential implication of the requirement for consensus in WTO accession decisions?

Tensions may arise due to the ability of any existing member to block a newcomer's accession Signup and view all the answers

What does the World Trade Organization (WTO) primarily deal with?

Trade in services, inventions, and designs Signup and view all the answers

How many members did the WTO have as of July 29, 2016?

164 members Signup and view all the answers

Which country is engaged in negotiations to join the WTO but is not yet a member?

Russia Signup and view all the answers

When did China join the WTO?

2001 Signup and view all the answers

Is it necessary to be a 'state' to become a member of the WTO?

No, it is not necessary to be a state Signup and view all the answers

What do the WTO agreements allow countries to do in terms of introducing changes?

Introduce changes gradually through progressive liberalization Signup and view all the answers

Why is promising not to raise a trade barrier considered important in the WTO?

It provides stability and predictability for businesses Signup and view all the answers

What does it mean for a country to 'bind' their commitments in the WTO?

To set ceilings on customs tariff rates for goods or services Signup and view all the answers

Do developing countries and developed countries usually have different rates for taxing imports?

Yes, developing countries have higher rates than developed countries Signup and view all the answers

What is the purpose of the WTO's multilateral trading system?

To make the business environment stable and predictable Signup and view all the answers

What is the principle of 'national treatment' in the context of the WTO?

Giving others the same treatment as one's own nationals Signup and view all the answers

When does national treatment apply according to the WTO agreements?

After a product, service, or intellectual property has entered the market Signup and view all the answers

Which of the following is NOT considered a barrier to trade according to the text?

Trade negotiations under Doha Development Agenda Signup and view all the answers

What was the focus of the initial trade negotiations under GATT's creation?

Lowering tariffs on imported goods Signup and view all the answers

By the mid-1990s, what happened to industrial countries' tariff rates on industrial goods as a result of negotiations?

Decreased steadily to less than 4% Signup and view all the answers

What does the MFN principle refer to in the context of the text?

Equal treatment of trading partners Signup and view all the answers

What is the significance of the MFN principle in trade agreements?

It ensures equal treatment of goods and services from all trading partners Signup and view all the answers

What exception is allowed under the MFN principle, as mentioned in the text?

Raising barriers against products considered to be traded unfairly from specific countries Signup and view all the answers

In what context can countries discriminate under the MFN principle?

When entering into free trade agreements Signup and view all the answers

What is the MFN treatment according to the General Agreement on Tariffs and Trade (GATT)?