What agreements are currently used by the WTO for global trade liberalization? Select one – the most appropriate answer.

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The question asks which agreements are currently used by the WTO for global trade liberalization, and it instructs to select the most appropriate option.
Option 1: 'GATS and UNCTAD.' While GATS (General Agreement on Trade in Services) is a WTO agreement, UNCTAD (United Nations Conference on Trade and Development) is not a WTO agreement; it is a UN body focused on trade and development. Therefore, this pairing is inaccurate for WTO-based liberalization instruments.
Option 2: 'No correct answer.' Given the well-established WTO agreements, recognizing TRIPS and GATS as core WTO instruments, this option is not correct because at least one true pairing exists.
Option 3: 'TRIPS and GATS.' TRIPS (Trade-Related Aspects of Intellectual Property Rights) and GATS are both integral WTO agreements that shape global trade liberalization in different domains—intellectual property protection and services trade, respectively. This combination aligns with the WTO’s architecture for liberalization across member economies.
Option 4: 'TRIPS and BRICS.' BRICS refers to an association of five emerging economies (Brazil, Russia, India, China, South Africa) and is not an official WTO agreement or framework for global trade liberalization. Thus, this pairing is incorrect.
Option 5: 'GATS and OECD.' OECD is a separate international organization and not a WTO agreement; GATS is relevant to trade in services, but pairing it with OECD does not reflect an official WTO treaty framework. Hence this option is inaccurate.
In summary, option 3 accurately reflects the core WTO instruments used for global trade liberalization, whereas the other options mix in non-WTO bodies or incorrect pairings that do not represent WTO agreements.

econ_420_120255_249094 Lesson 9 Quiz

What agreements are currently used by the WTO for global trade liberalization? Select one – the most appropriate answer.

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