Which among the following statements is/are true with regard to WTO membership?
1. All WTO members automatically receive the most favourable nation status.
2. Over 75% of WTO members are from developing countries, and the membership allows them access to develop markets at lower tariff.
Which of the statements given above is/are correct?

Options

A. only 1
B. only 2
C. Both 1 and 2
D. Neither 1 nor 2

Answer

B