For the creation of a preferential trade agreement (PTA) among the countries described, which legal instrument in the WTO should be recommended?
a) General Agreement on Tariffs and Trade (GATT)
b) Agreement on Agriculture (AoA)
c) Agreement on Subsidies and Countervailing Measures (ASCM)
d) Enabling Clause
What legal requirements must the countries meet to establish the preferential trade agreement (PTA) based on the recommended legal instrument?
a) Demonstrating significant industrialization efforts
b) Ensuring high dependency on agriculture
c) Showing rapid industrialization progress
d) Proving membership in the World Trade Organization (WTO)
According to the economic classification provided, which country is most likely to benefit from a preferential trade agreement (PTA) with developed nations?
a) Nearlandia
b) Marlandia
c) Farlandia
d) Bratavia
True or False: The legal requirements for establishing a preferential trade agreement (PTA) are uniform across all member countries of the WTO.
a) True
b) False
Fill in the blank: The countries involved in the preferential trade agreement (PTA) will need to comply with the legal requirements outlined in the _____________ instrument of the WTO.
a) General Agreement on Tariffs and Trade (GATT)
b) Agreement on Agriculture (AoA)
c) Agreement on Subsidies and Countervailing Measures (ASCM)
d) Enabling Clause