Quiz on Free Trade Agreements and WTO

What is the main purpose of Free Trade Agreements?

• To increase tariffs on imports

• To promote trade liberalization

• To restrict trade between nations

• To eliminate all trade negotiations

Which of the following is an example of a Bilateral Trade Agreement?

• GATT

• APEC

• PJEPA

• AFTA

When was the World Trade Organization (WTO) officially established?

• 08 August 1967

• 28 January 1992

• 15 April 1994

• 01 January 1995

What does NAMA stand for in the context of trade agreements?

• National Agricultural Market Access

• Non-Agricultural Market Access

• New Agricultural Market Agreement

• National Association of Market Analysts

Which of the following is NOT a key area of negotiation in the Doha Round?

• Environmental Protection

• Agriculture

• Intellectual Property Rights

• Services

What is the main goal of the ASEAN Free Trade Area (AFTA)?

• To liberalize trade by eliminating tariffs

• To establish a common currency

• To create a political union

• To increase tariffs on all goods

Which organization was established in 1989 to improve free trade in the Asia-Pacific region?

• WTO

• ASEAN

• GATT

• APEC

What is the purpose of the Agreement on Agriculture under the WTO?

• To provide binding commitments on market access

• To eliminate all agricultural products

• To increase tariffs on agricultural imports

• To restrict trade in agricultural goods

Which of the following is a principle of the General Agreement on Tariffs and Trade (GATT)?

• Prohibition of all trade agreements

• Complete elimination of tariffs

• Mandatory quotas on imports

• Trade without discrimination

What does the term 'tariffication' refer to in trade agreements?

• The reduction of tariffs on imports

• The elimination of all tariffs

• The conversion of quantitative restrictions to tariffs

• The increase of tariffs on exports