1 A most-favoured-nation (‘MFN’) clause is a treaty provision whereby one State (the granting State) undertakes the obligation to accord to another State (the beneficiary State), in a designated sphere of economic or other relations, treatment not less favourable than the treatment it extends in the same sphere to any other third State. The object of an MFN obligation may extend to the treatment accorded by the granting State to the beneficiary State itself as well as to its nationals or to the products or services originating in or destined for its territory. The...
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