Consider the following statements about Most favoured nation status used frequently in international economic relations and international politics
Which of the above statements is/are correct?
Consider the following statements about Most favoured nation status used frequently in international economic relations and international politics
Which of the above statements is/are correct?
The correct option is A 1 and 3 only
Most favoured nation (MFN) is a status or level of treatment accorded by one state to another in international trade. 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.
The members of the World Trade Organization (WTO) agree to accord MFN status to each other following both GATT and WTO norms of reciprocity and non-discrimination
Exceptions allow for preferential treatment of developing countries, regional free trade areas and customs unions.
1 and 3 only
Most favoured nation (MFN) is a status or level of treatment accorded by one state to another in international trade. 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.
The members of the World Trade Organization (WTO) agree to accord MFN status to each other following both GATT and WTO norms of reciprocity and non-discrimination
Exceptions allow for preferential treatment of developing countries, regional free trade areas and customs unions.
