Which of the following were the aims behind the setting up of the World Trade Organization (WTO) ? I. Promotion of free trade and resource flows across countries. II. Protection of intellectual property rights. III. Managing balanced trade between different countries. IV. Promotion of trade between the former East Block countries and the western world. Select the correct answer by using the codes given below : Codes :

The WTO was created to promote liberalised, free and fair international trade and to set rules for the global trading system, including coverage of goods, services and related issues such as intellectual property rights [1]. The Uruguay Round led to the incorporation of TRIPS within the WTO framework, explicitly aiming to promote effective protection of intellectual property and reduce trade distortions related to IPRs [2]. By contrast, the WTO’s mandate is not to manage “balanced trade” between countries as a primary objective, nor was it established specifically to foster trade between former Eastern Bloc and Western countries. Therefore only I and II correctly reflect WTO’s establishment aims.

Sources

1. [1] FUNDAMENTALS OF HUMAN GEOGRAPHY, CLASS XII (NCERT 2025 ed.) > Chapter 8: International Trade > World Trade Or rade Organisation > p. 74
2. [2] https://www.wto.org/english/tratop_e/trips_e/intel2_e.htm