Trade liberalisation at the multilateral level is generally based on a Most Favoured Nation (MFN) basis, in which better market access is granted to all trading partners equally. The classical “gains from trade” argument asserts that such trade liberalization would help consumers to have access to more goods and services at lower prices, and producers to have more sources for their inputs and more markets for their products. The flip side of this argument is predicated on the view that imports can displace domestic industries and jobs, whereas exports can create domestic shortages and consequent impoverishment.