Most favoured nation

Okay, let me put it like this. Imagine you are going to a birthday party and you want to make sure you get the best piece of cake. You tell the host that you will only come to the party if you get the best piece of cake. But then, the host tells you that they will give the same best piece of cake to everyone who shows up at the party! That's what being a most favored nation (MFN) is like.

Most favored nation is like saying that every person who comes to the party will get the same best piece of cake. So, if your country is a most favored nation to another country, it means that it will get the same treatment in trade that every other country gets. It's like saying that all countries are equal and no one gets special treatment. This helps to promote fair and equal trade between different countries.