Market access: Permission to foreign product to enter domestic market and compete with domestic product on a non-discriminatory basis.

Mercosur: is a regional trade agreement (RTA) between Brazil, Argentina, Uruguay and Paraguay, founded in 1991 by the Treaty of Asunción. Bolivia, Chile, Colombia, Ecuador and Peru currently have associate member status. Venezuela signed a membership agreement on June 17, 2006. Sometimes called the Southern Common Market its purpose is to promote free trade and the fluid movement of goods, peoples, and currency across member States.

MFN: Most Favoured Nation actually means non-discriminatory treatment of import/export of products between all WTO members.

Millennium Development Goals: Eight developmental goals set by the United Nations to be achieved by 2015. Among them, halve extreme poverty, provide universal primary education, reverse incidence of HIV/AIDS, malaria, TB, etc.

Modes of supply: Means of delivering services to foreign consumers under GATS, dependent on origins of the supplier and consumer and the type of territorial presence that both have when the service is delivered. There are four modes.

Mode 1: Cross-border supply: When a service is delivered within the territory of the consumer from the territory of the service supplier. Entails the conveyance by mail, telecommunication or physical movement of merchandise from one country to another.

Mode 2: Consumption abroad: A consumer receives a service outside his country either by moving or being situated abroad, for example foreign exchange students, people seeking medical treatment, repair services done to equipment shipped to a different country, etc. 

Mode 3: Commercial presence: A service supplier establishes any kind of business or enterprise in the foreign market to supply services. For example, establishing corporate subsidiaries, trusts, joint ventures, partnerships, representative offices and branches, etc.

Mode 4: Movement of natural persons: Service delivered by one individual acting alone or as an employee of a service supplier by being present in the foreign market to provide the service.

Multi-Fibre Agreement on Textiles: Agreement under which countries whose markets are disrupted by increased imports of textiles and clothing from another country were able to negotiate quota restrictions.

Mutual Recognition Agreements (MRAs): MRAs in GATS enable the qualifications of professional service suppliers to be mutually recognised by signatory member countries, hence facilitating easier flow of professional service providers.