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
• D. neither 1 nor 2