Distinguish between Multilateral Trade and Bilateral Trade.
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Solution and Explanation
| Multilateral Trade | Bilateral Trade |
|---|---|
| Trade between more than two countries, usually under international agreements like WTO. | Trade between two countries on mutually agreed terms. |
| Aims at creating a free and fair trading environment globally. | Focuses on strengthening economic ties between two specific nations. |
| Examples: WTO trade agreements, Regional blocs like ASEAN. | Examples: India–Sri Lanka Free Trade Agreement (ISLFTA). |
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