Multilateral Trade involves trade agreements or negotiations among three or more countries, typically through international organizations like the World Trade Organization (WTO), aimed at promoting free trade and reducing trade barriers across multiple nations. Bilateral Trade involves trade agreements between two countries, focusing on mutual trade benefits and concessions tailored to their specific needs.
Aspect | Multilateral Trade | Bilateral Trade |
Number of Countries | Involves three or more countries (e.g., WTO agreements, regional trade blocs like ASEAN). | Involves only two countries (e.g., India-USA Free Trade Agreement). |
Scope | Broad, aiming for global or regional trade liberalization with standardized rules. | Narrow, focusing on specific trade terms between the two nations. |
Negotiation Complexity | More complex due to multiple stakeholders with diverse interests. | Simpler, as it involves only two parties with clearer objectives. |
Trade Barriers | Reduces barriers across multiple countries, promoting wider market access. | Reduces barriers only between the two countries, limiting market scope. |
Examples | WTO agreements, Regional Comprehensive Economic Partnership (RCEP). | India-Japan Comprehensive Economic Partnership Agreement (CEPA). |
Benefits | Greater market access, economies of scale, and harmonized trade rules. | Customized agreements, faster negotiations, and targeted trade benefits. |
Challenges | Consensus-building is difficult; benefits may be diluted across many nations. | Limited scope; may lead to trade diversion from non-partner countries. |
Multilateral Trade: India participates in the RCEP, involving 15 Asia-Pacific countries, to reduce tariffs and enhance trade. Bilateral Trade: India and Australia sign the Economic Cooperation and Trade Agreement (ECTA) in 2022 to boost trade in goods like textiles and agriculture.
A compound (A) with molecular formula $C_4H_9I$ which is a primary alkyl halide, reacts with alcoholic KOH to give compound (B). Compound (B) reacts with HI to give (C) which is an isomer of (A). When (A) reacts with Na metal in the presence of dry ether, it gives a compound (D), C8H18, which is different from the compound formed when n-butyl iodide reacts with sodium. Write the structures of A, (B), (C) and (D) when (A) reacts with alcoholic KOH.