TeachMeFinance.com - explain Bilateral trade agreement
Bilateral trade agreement The term 'Bilateral trade agreement ' as it applies to the area of agriculture can be defined as ' A trade agreement between any two countries. The agreement may be either preferential (the obligations and benefits apply only to the two countries involved) or most-favored-nation (the benefits and obligations negotiated between the two countries are extended to all or most other nations). The U.S.-Israel Free Trade Agreement is one example of a preferential trade agreement'.
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