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Definitions for most favoured nation
most favoured na·tion

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  1. Most favoured nation

    In international economic relations and international politics, "most favoured nation" is a status or level of treatment accorded by one state to another in international trade. The term means the country which is the recipient of this treatment must, nominally, receive equal trade advantages as the "most favoured nation" by the country granting such treatment. In effect, a country that has been accorded MFN status may not be treated less advantageously than any other country with MFN status by the promising country. There is a debate in legal circles whether MFN clauses in bilateral investment treaties include only substantive rules or also procedural protections. The members of the World Trade Organization agree to accord MFN status to each other. Exceptions allow for preferential treatment of developing countries, regional free trade areas and customs unions. Together with the principle of national treatment, MFN is one of the cornerstones of WTO trade law. "Most favoured nation" relationships extend reciprocal bilateral relationships following both GATT and WTO norms of reciprocity and non-discrimination. In bilateral reciprocal relationships a particular privilege granted by one party only extends to other parties who reciprocate that privilege, while in a multilateral reciprocal relationship the same privilege would be extended to the group that negotiated a particular privilege. The non-discriminatory component of the GATT/WTO applies a reciprocally negotiated privilege to all members of the GATT/WTO without respect to their status in negotiating the privilege.

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Numerology

  1. Chaldean Numerology

    The numerical value of most favoured nation in Chaldean Numerology is: 8

  2. Pythagorean Numerology

    The numerical value of most favoured nation in Pythagorean Numerology is: 7

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Translations for most favoured nation

From our Multilingual Translation Dictionary

  • سب سے زیادہ پسند قومUrdu

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    take away to an undisclosed location against their will and usually in order to extract a ransom
    • A. abduct
    • B. rumpus
    • C. abhor
    • D. embellish

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