Advantages of bilateral trade agreements
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Bilateral agreements increase trade between the two countries. They open markets to successful industries. As companies benefit, they add jobs.
The country's consumers also benefit by lower costs. They can get exotic fruits and vegetable that are two expensive without the agreement.
They are easier to negotiate than multilateral trade agreements, since they only involve two countries.
This means they can go into effect faster, reaping trade benefits more quickly. If negotiations for a multilateral trade agreement fails, many of the nations will negotiate a series of bilateral agreements instead.
The country's consumers also benefit by lower costs. They can get exotic fruits and vegetable that are two expensive without the agreement.
They are easier to negotiate than multilateral trade agreements, since they only involve two countries.
This means they can go into effect faster, reaping trade benefits more quickly. If negotiations for a multilateral trade agreement fails, many of the nations will negotiate a series of bilateral agreements instead.
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