What is the difference between bilateral and multilateral trade agreements?

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Trade agreements are treaties that regulate the terms and conditions of trade between two or more countries. They can have a significant impact on the economic welfare, growth, and development of the participating nations. Trade agreements can be classified into two main types: bilateral and multilateral. In this article, you will learn what is the difference between bilateral and multilateral trade agreements, and what are some of the advantages and disadvantages of each type.

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