most-favoured-nation treatment

As is the case with trade in goods, the basic principles are those of most-favoured-nation treatment and national treatment.

The ministers also agreed to an Indian proposal that each member state should give the other most-favoured-nation treatment in trade, manufacturing services and tourism.

In addition, there are other international treaties, bilateral and multilateral, under which signatories extend most-favoured-nation treatment to direct investment.

A separate Treaty of Commerce and Navigation awarded Japan most-favoured-nation treatment in China.

With regard to trade, the parties mutually agree on most-favoured-nation treatment in all matters connected with customs duties, provisions relating to customs clearance, transit, warehouses and transhipment, and methods of payment and payment transfers.