Which of the following statement is correct about World Trade Organisation?
I. The objective of the World Trade Organisation is to establish a rule-based trade regime to ensure optimum utilisation of world resources.
II. The World Trade Organisation was founded in 1995 as the successor organisation to the General Agreement on Trade and Tariff (GATT).
1
Only I
2
Both I and II
3
Neither I nor II
4
Only II
5
Question Not Attempted