Question

what is bilateral and multilateral trade ?​

Answer 1

Answer:

• Bilateral trade is the exchange of goods between two nations promoting trade and investment. The two countries will reduce or eliminate tariffs, import quotas, export restraints, and other trade barriers to encourage trade and investment.
• A multilateral agreement is a trade agreement established between three or more countries with the intention of reducing barriers to trade, such as tariffs, subsidies, and embargoes, that limit a nation's ability to import or export goods.

Answer 2

Explanation:

Bilateral trade is the exchange of commodities between countries . Multilateral trade This type of trade involves exchange of goods and services among a number of countries