Bilateral Trade Agreement

Bilateral trade agreement in Global Commerce Policy

In this regard, bilateral trade agreement is: an agreement between two countries setting out the conditions under which trade between them will be conducted. The entries on trade policy are here. If both parties are already WTO members enjoying the attendant non- discrimination, market access and other benefits, the main additional reason for a bilateral agreement may be a program of bilateral trade facilitation and trade promotion activities. The entries on trade policy are here. If one party is not a member of the WTO, the agreement will normally provide for most- favoured nation treatment and national treatment, protection of intellectual property rights, consultation and dispute settlement, and other principles and mechanisms necessary for ensuring smooth trade flows and the speedy resolution of problems. Bilateral trade agreements usually contain a provision for periodic reviews of trade developments at ministerial or officials level, such as a Joint Trade Committee or a Mixed Commission.[1]

Bilateral trade agreementin the wold Encyclopedia

For an introductory overview on international trade policy, see this entry.

Resources

Notes and References

1. Dictionary of Trade Policy, “Bilateral trade agreement” entry (OAS)

See Also