Q. “Most Favoured Nation (MFN)” is often seen in news is related to which of the following International Organization?

[A] International Monetary Fund

[B] United Nations

[C] World Economic Forum

[D] World Trade Organization

Answer: D
Notes:

According to the MFN principle of the WTO’s General Agreement on Tariffs and Trade (GATT), each of the WTO member countries should “treat all the other members equally as ‘most-favoured’ trading partners.”  

  • If a special favour such as a lower customs duty rate is grant to someone by a nation, then it has to do the same for all other WTO members.  
  • Thus, in effect it means non-discrimination. 
  • Recently, India withdrew the Most Favored Nation (MFN) status from Pakistan. 

Source: WTO