Concept information
Preferred term
most favoured nation status
Definition
- Most favoured nation (MFN) status provides that for all countries that are members of the World Trade Organization (WTO), all foreign suppliers should be treated equally and without discrimination in respect of all tariffs and other charges and the rules and formalities connected with imports and exports. In effect, MFN says that within the WTO, a member country cannot have any favorite countries for which it cuts a special trade deal. [Source: Encyclopedia of Business Ethics and Society; Most Favoured Nation Status]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/most_favoured_nation_status
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