Which among the following statements is/are true with regard to WTO membership? 1. All WTO members automatically receive the 'most favoured nation' status 2. Over $75 \%$ of WTO members are from developing countries. WTO membership allows them access to developed markets at the lower tariff Select the correct answer using the code given below:

• A

  1 only
• B

  2 only
• C

  Both 1 and 2
• Correct answer
  D

  Neither 1 nor 2

Hence, the correct answer is option: 'D'.