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Most Favored Nation
(redirected from most favoured nations)

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Most Favored Nation
A privilege granted by one country to another whereby the products of the privileged country pay the lowest delivered duty paid charged by the granting country.

Most Favored Nation
A status in which a country assesses the lowest possible tariffs that it can assess on another country. For example, if a country's lowest tariff is a certain percentage of the value of a good, it charges this percentage on an import from a country with most favored nation status. Members of the World Trade Organization are required to extend Most Favored Nation status to other members, though exceptions exist. In the United States, most favored nation status is formally called permanent normal trade relations.


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The highlights of the Framework Agreement are as follows: - (I) FTA in Goods · The tariff reductions would start from 1st January, 2006 and Most Favoured Nations (MFN) tariff rates to be gradually eliminated.
 
 
 
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