Question:

Distinguish between Multilateral Trade and Bilateral Trade.

Show Hint

Bilateral trade involves two nations; multilateral trade involves multiple countries under agreed rules.
Updated On: July 22, 2025
Hide Solution
collegedunia
Verified By Collegedunia

Solution and Explanation

Multilateral TradeBilateral 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).
Was this answer helpful?
0
0

Top Questions on Economic Reforms

View More Questions

CBSE CLASS XII Notification