MFN meaning in Governmental ?

Answer:

What is Most Favored Nation mean?

In international economic relations and international politics, most favoured nation (MFN) 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 (trade advantages include low tariffs or high import quotas). 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 (WTO) 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.Most Favoured Nation status is given to an international trade partner to ensure non-discriminatory trade between all partner countries of the WTO. A country which provides MFN status to another country has to provide concessions, privileges, and immunity in trade agreements. It is the first clause in the General Agreement on Tariffs and Trade (GATT).

Under rules of the World Trade Organisation (WTO), a member country is not allowed to discriminate between trade partners and if a special status is granted to one trade partner, the country is required to extend it to all members of the WTO. In a nutshell, MFN is a non-discriminatory trade policy as it ensures equal trading among all WTO member nations rather than exclusive trading privileges.

reference

Full Form	Category
Milford Sound	Airport Code
Most Favored Nation trade status (now called Normal Trade Relations)	Business
Motor Filatelisten Nederland	Business
Most Favored Nations	Business
Metal Finishing News	Community
Master File Notification	Computing
Master File Number	Computing
Multi Frequency Network	Computing
Moronic Filename Normalizer	General
Most Favoured Nation	General
Metropolitan Fiber Network	General
Medford Family Network	General
Medford Family	General
Masculine Feminine Neuter	General
Most Favorite Nation	General
Metabolic Fecal Nitrogen	General
Most Favorable Nation	General
Ministerial Formation Network	General
Mostly Free Needlework	General
Multi Facet Network	General
Multilateral Funding Network	General
Multi Functional Normb	General
Multi Flame Nozzle	General
Motorola Feedback Network	General
Merchant Fulfillment Network	General
Many Foreign Nationals	General
Medial Frontal Negativity	General
Most Favoured Nations	General
Miles From Nowhere	Governmental
Most Favored Nation	Governmental
Multi-Forums Network	Internet
Money for Nukes	Military and Defence
Most Favored Nation (status)	Military and Defence
Merchant Fulfilled Network	Networking
Milford Sound, New Zealand	Regional
Main Frogans Network	Softwares
Medical Fitness Network	Sports
Multiple Frequency Network	Telecommunication