Multilateral Trade Agreements

Multilateral trade agreements in Global Commerce Policy

In this regard, multilateral trade agreements is: intergovernmental agreements aimed at expanding and liberalizing international trade under non-discriminatory, predictable and transparent conditions set out in an array of rights and obligations. The motivation for taking on these obligations is that all members will increase their welfare by adhering to a common standard of conduct in the management of their trade relations. Typically, such agreements have numerous members representing small, medium-sized and large trading nations. Membership of this kind of agreement is open-ended, but countries wishing to accede usually have to demonstrate that their trade regimes are in keeping with the aims of the agreement, and that the access conditions to their markets roughly match those of existing members. The entries on trade policy are here. If necessary, they must make adjustments. Before the GATT, entered into force in 1948, trade agreements were mostly bilateral, or they were preferential, such as the imperial preferences arrangement. The entries on trade policy are here. In the WTO, the term “Multilateral Trade Agreement” refers to the arrangements and associated legal instruments contained in Annexes 1, 2 and 3 to the Marrakesh Agreement Establishing the World Trade Organization. See also accession, bilateral trade agreements, plurilateral trade agreements and prisoner’s dilemma.[1]

Multilateral trade agreementsin the wold Encyclopedia

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

Resources

Notes and References

1. Dictionary of Trade Policy, “Multilateral trade agreements” entry (OAS)

See Also