International Trade Law Specialists.

Glossary of Terms

Margin Of Preference

The difference between the duty paid on an MFN basis and the duty paid under a preferential system.

Market Access

The extent to which a market is accessible to foreign exporters depends on the existence and extent of trade barriers (tariff and non tariff).  In the Uruguay Round, a Group of Negotiations on Market Access was established to deal with: tariffs, non tariff measures, tropical products and natural resource based products.  Under the WTO, a Committee on Market Access has been established to deal with these issues.

 

Mercosur

See Southern Common Market.

MFA

See Multi Fibre Arrangement.

MFN

See Most Favoured Nation.