Suppose a newly formed African country wanted to join GATT and thus be treated the same as other GATT members.What GATT principle is the new country interested in receiving?
A) Free trade
B) Importation/exportation
C) The Tokyo Round
D) Foreign-exchange control
E) Most-favoured-nation status

Question

Quizplus · Accepted Answer

Most-favoured-nation status is a principle of GATT which requires member countries to extend the same favourable treatment to all other GATT members in terms of trade tariffs and market access. By seeking to join GATT on this principle, the new African country is expressing a desire to be treated equally in trade with other GATT members.

Suppose a Newly Formed African Country Wanted to Join GATT