Most Favored Nation

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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.
References in periodicals archive ?
Now that India has accorded MFN status to Pakistan it was difficult for it to withdraw this status.
And the tense post-communist Romanian history of 1990-1991 did not favour putting back the issue of re-granting the MFN clause for Romania on the agenda of the Congress.
M Muneer president India-Pakistan chamber of commerce and industry said that Pakistan should grant MFN status to India it is the need of the time for the interest of both the nation.
It is important to note that the MFN status is to be granted by the Cabinet - the approval would be vetted by the law ministry and finally the commerce ministry will notify India in this regard.
This paper briefly introduces the concept of MFN treatment, sheds some light on the recent developments taking place in Pakistan India context; explores its bearings for Pakistan and suggests an approach for the Pakistani decision makers.
Given the ultimate goal of reaching a deal that supports the parties' respective business initiatives, an MFN is essentially pro-competitive if it succeeds in breaking a negotiating paralysis," T-Mobile USA's Director of Legal Affairs Melissa Scanlan, who spoke at the workshop, explained in an email.
Interestingly, both India and Pakistan granted the MFN status to each other after ratifying the GATT in July 1948.
the first and leading neutral Internet exchange, and SiteSmith, a leader in delivering comprehensive Internet infrastructure managed services, MFN is a leading provider of Internet connectivity, co-location and managed services solutions for high-bandwidth and business-critical applications.
So if Smith, a seller, and Jones, a buyer, enter into a contract with an MFN provision under which Jones initially gets a price of $10, and Smith later sells the same product to another buyer at a price of $9, then Jones also gets the same lower $9 price.
MFN will shortly begin installing fiber into thirty-eight (38) Crescent buildings located in those MFN markets, which are operating or under construction.
The lawmakers going to Beijing are undecided on their support for MFN status for China.