Abstract

The Most-Favoured-Nation (MFN) as a principle of international trade stipulates that trading partners are obliged to offer the same levels of market access to every trading partner irrespective of country origin. However, due to inequality in income levels and various other social, economic, and political factors, States have considered it necessary to take regulatory measures inconsistent with this obligation. Research has shown that, apart from regulatory regimes, States are more inclined to enter into Preferential Trade Agreements (PTAs) with selected trading partners. This research ...