Question

Distinguish between Multilateral Trade and Bilateral Trade.

Hint:

Bilateral trade involves two nations; multilateral trade involves multiple countries under agreed rules.

Answer 1

Multilateral Trade	Bilateral Trade
Trade between more than two countries, usually under international agreements like WTO.	Trade between two countries on mutually agreed terms.
Aims at creating a free and fair trading environment globally.	Focuses on strengthening economic ties between two specific nations.
Examples: WTO trade agreements, Regional blocs like ASEAN.	Examples: India–Sri Lanka Free Trade Agreement (ISLFTA).