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 Bloc countries and the western world. Select the correct answer by using the codes given below:

- I. Promotion of free trade and resource flows across countries: A primary objective of the WTO is to reduce barriers to international trade in goods and services, thereby promoting freer trade and movement of resources. This is correct. - II. Protection of intellectual property rights: The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), administered by the WTO, sets minimum standards for protecting intellectual property rights. This is correct. - III. Managing balanced trade between different countries: The WTO provides a framework for trade negotiations and dispute resolution based on rules, but it does not aim to 'manage balanced trade' or dictate trade balances between specific countries. This is incorrect. - IV. Promotion of trade between the former East Bloc countries and the western world: While the collapse of the East Bloc led to many of these countries joining the WTO, promoting trade between specific political blocs was not a founding or general aim of the WTO; its aim is multilateral trade liberalization for all members. This is incorrect as a defining aim.