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Which of the following best describes the primary objective of the 'Most-Favored-Nation' (MFN) principle under the WTO framework?
The MFN principle requires that any trade advantage, favor, privilege, or immunity granted by a WTO member to any product originating in or destined for any other country shall be accorded immediately and unconditionally to the like product originating in or destined for the territories of all other members.
The Dispute Settlement Body is the WTO's primary mechanism for enforcing trade rules and resolving conflicts between members, whereas the other options are institutions primarily associated with the World Bank Group.
CAREC operates as a partnership of countries and development partners that promotes regional cooperation through project-based investments in transport, energy, and trade facilitation rather than through supranational legislation or monetary union.
The Global Food Security Index is a governance tool used to evaluate the affordability, availability, and quality of food systems across nations, serving as a benchmark for global governance institutions.
The Dispute Settlement Body is the central pillar of the multilateral trading system, responsible for resolving trade-related conflicts between member states based on established WTO agreements.
The Washington Consensus represents a set of policy prescriptions, often advocated by international financial institutions, that emphasize market-oriented reforms, fiscal austerity, and the removal of trade barriers to achieve economic stabilization.
Which of the following multilateral institutions acts as a primary development partner alongside the Asian Development Bank in supporting the CAREC program?
The World Bank is a foundational development partner of CAREC, providing technical assistance and financial support for regional infrastructure and trade facilitation projects alongside the ADB.
The ADB functions as a multilateral development bank focused on poverty reduction and economic growth through infrastructure investment and policy-based lending, distinguishing it from regulatory or security-focused institutions.
The ECC is a cabinet-level committee tasked with the formulation and oversight of economic stabilization policies and the management of federal financial affairs.
The Extended Fund Facility is designed to assist member countries in addressing medium-term balance of payments problems caused by structural weaknesses that require comprehensive economic reforms.
