Consider the following statements with respect to Trade Facilitation Agreement:

  1. It is the first multilateral trade agreement to be concluded since the establishment of WTO. 
  2. The agreement can only enter into force when two-thirds of WTO members ratify the same.

Which of the above statements is/are correct?

Answer: [C] Both 1 & 2

Both are correct statements. 

This question is a part of GKToday's Integrated IAS General Studies Module