Multilateral Trade

Multilateral trade refers to the exchange of goods and services among multiple countries under agreed rules or trade agreements. Instead of bilateral trade, which occurs between two countries, multilateral trade involves several nations working together to reduce tariffs and eliminate trade barriers. This cooperation aims to promote economic growth, increase market access, and enhance competition among member countries. Organizations like the World Trade Organization (WTO) facilitate these multilateral agreements, helping to create a fair and predictable trading environment that benefits all parties involved.