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Q33. With reference to principles of multilateral trading system by WTO, consider the following statements: 1. Principle of "Most-favoured-nation (MFN)" means that a member country is allowed to extend a special favour to its trading partner without extending it to the other members of WTO. 2. Principle of "national treatment" means Imported and locally-produced goods should be treated equally. 3. Charging customs duty on an import is a violation of national treatment. Which of the above statement(s) is/are correct?

Answer»

Q33. With reference to principles of multilateral trading system by WTO, consider the following statements:

1. Principle of "Most-favoured-nation (MFN)" means that a member country is allowed to extend a special favour to its trading partner without extending it to the other members of WTO.

2. Principle of "national treatment" means Imported and locally-produced goods should be treated equally.

3. Charging customs duty on an import is a violation of national treatment.

Which of the above statement(s) is/are correct?




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