Although the WTO is the perpetuation of the GATT aiming to reach common multilateral goals, it has its own fundamentals that are mostly the improved versions of the GATT system. The fundamentals of the WTO can briefly be examined under four subtitles:

• Setting multilateral trading rules: There is no doubt that multilateral trading rules ensure assurance, transparency and economic stability. Consumers as well as producers enjoy the confidency of supplies and the vast variety of manufactured commodities, inputs and raw materials. The traders know that the markets are open to them with uniform trading implementations. Such a system that functions on the grounds of multilateral trading rules conceives a more accountable world economy. Multilateral trading rules are taken by consensus among all the WTO member countries and ratified by their parliaments. Thus, a multilateral trading rule cannot be implemented if a member country does not give assent. The driving forces of the multilateral trading system are the agreements negotiated and signed by the WTO member countries and ratified by their national parliaments. These agreements constitute the legal basis of the multilateral trading system.
• Trade negotiations: In setting the multilateral trading rules, trade negotiations have been the main instrument of the system since the signing of the GATT in 1947. The basis of today’s multilateral trading system has been laid down by a series of trade negotiations, or as sometimes referred as, trade rounds.
• WTO agreements: The multilateral trading system that is represented by the WTO is based on the agreements. In other words, multilateral trading rules get their binding from the WTO agreements. In this respect, the WTO agreements constitute the structure of the WTO. Since they require an explicit explanation, they are examined under the following title of the Structure of the WTO.
• Building trade capacity: Among the total 164 WTO member countries, over threequarters are developing or least developed countries. The WTO agreements entail special provisions for developing or least developed countries by taking into consideration their economic structures and needs. These special provisions mostly offer longer time frames in implementing the WTO commitments, facilitating their trading opportunities, assisting and giving them support in building trade infrastructure in order to take more part within the world trade.

As also understood from the information given, the correct answer is E. All of the subtitles in the options are the fundamentals of the WTO.