The Future of MFN (Most Favourable Nation) Treatment under the Law of World Trade Organization

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ACKNOWLEDGEMENT

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DECLARATION

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ABSTRACT

International trade law has been predominantly comprised of multilateral agreements acceded to by the WTO member states. These all-encompassing agreements are then added to and supported by formal trade negotiation rounds. In the modern era of international trade, international institutions such as the World Trade Organization (WTO) have encouraged liberalism at the multilateral level, at the same time as having regard to the national sovereignty of individual states. The ultimate objective of the WTO was established as free-trade between nations, and this was viewed as best being achieved through multilateral agreements which would apply to all WTO members. Multilateral agreements are trade agreements between all WTO member countries that are required to satisfy the most favoured nation (MFN) principle, requiring market access benefits to be made on a non-discriminatory basis. Regional and bilateral agreements comprise trade agreements in which a number or group of countries form preferential trade agreements that give a discriminatory concessions to member countries. For the purpose of this paper, regional trade agreements (RTAs) will refer to all forms of interstate cooperation falling under GATT Article XXIV, including bilateral, preferential trade and free-trade agreements. Hence, RTAs constitute an exception to the MFN principle. This research will discuss in detail, the background for MFN provisions, their establishment and developments over time and their effects in the context of international relations and trade. We will analyze that MFN provisions provide a sound framework for the promulgation of international trade and are subjected to greater improvements over time.

TABLE OF CONTENTS

ACKNOWLEDGEMENTii

ABSTRACTiv

CHAPTER 01: INTRODUCTION1

Theoretical Framework3

Argument4

Research Questions5

Aims and Objectives6

Significance of the Study6

CHAPTER 02 (A): BACKGROUND OF MFN8

MFN Clause, Origin and Examples9

Philosophy of MFN Principle13

CHAPTER 02 (B): DEVELOPING AND REFINING MFN TREATMENT15

How it is developed?15

How it is refined?18

CHAPTER 03: METHODOLOGY20

Informed Consent20

Confidentiality20

Validity21

Ethical Consideration22

REFERENCES23

CHAPTER 01: INTRODUCTION

Most Favoured Nation (MFN) is a part of a treaty under the World Trade Organization (WTO) in which the member countries exchange a heightened status whereby they submit to special trading relationships between one another. the international legal regime, under which each contracting party undertakes to provide the other party, its natural and legal persons such as the conditions of economic, trade and other relations, what it provides or will provide in the future any third state, its natural and legal persons. Most-Favoured-Nation Treatment (MFN) is also called normal trade relations which are established in order to remove the hurdles ...