Definition: Multilateral trade agreements are between many nations at one time. For this reason, they are very complicated to negotiate, but are very powerful once all parties sign the agreement.
MULTILATERAL TRADE NEGOTIATIONS (MTN)
Negotiations held under the auspices of the GATT from 1947 to 1994, when the Uruguay Round was concluded.
multilateral trade trade among more than two persons or nations. (2)
multiplier the ratio of the change in real GDP to the shift in the aggregate expenditure line. (26)
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Multilateral trade regime originally to form part of the Bretton Woods regime with the World Bank and IMF. Plans for this were shelved and it is not until 1995 with the formation of the World Trade Organisation (WTO) that this proposal was fulfilled.
A multilateral trade agreement among autonomous economic entities (not necessarily countries) aimed at expanding international trade as a means of raising world welfare. The GATT was signed in 1947, as an interim agreement.
MTN
Multilateral Trade Negotiations
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As a multilateral trade agreement, the GATT requires its signatories to extend most-favored-nation (MFN) status to other trading partners participating in the WTO.
Set of multilateral trade agreements aimed at the abolition of quotas and the reduction of tariff duties among the signing nations.
Both a multilateral trade agreement aimed at expanding international trade and the organization which oversees the agreement.
Multilateral Trade Negotiations
A term describing the eight multilateral rounds of negotiations held under the auspices of the General Agreement on Tariffs and Trade since 1947.
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The eighth round of multilateral trade negotiations under the General Agreement on Tariffs and Trade (GATT).
The fifth round of multilateral trade negotiations that was held under GATT auspices, commencing 1960 and completed 1961. It was the first to be given a name, after C. Douglas Dillon, U.S.
The WTO’s main functions are to do with trade negotiations and the enforcement of negotiated multilateral trade rules, by the way the organization implements four particular policies supporting four different functions.
Exchanges may take place between two parties (bilateral trade) or amongst more than two parties (multilateral trade).
The General Agreements on Tariffs and Trade is a multilateral trade treaty among governments, embodying rights and obligations.
Trade Organization (WTO): Established on January 1, 1995, the World Trade Organization provides the institutional framework for the GATT and all agreements and arrangements concluded under the auspices of the Uruguay Round of multilateral trade ...
The main function of WTO is to act as a forum for multilateral trade negotiations, to seek to resolve trade disputes, to oversee national trade policies and promote fair competition.
It means if one country has a trade deficit, it has to be made up so that the trade levels meet. This is inferior to multilateral trade where a country trades with numerous other countries and doesn't worry about bilateral trade deficits.
An international organization established on January 1, 1995, to succeed the General Agreement on Tariffs and Trade (GATT). Serves as a forum for multilateral trade negotiations and helps resolve its members' trade disputes.
Dispute Settlement Understanding (DSU) - The Dispute Settlement Understanding (DSU) of the World Trade Organization (WTO) was one of the key outcomes of the Uruguay Round of multilateral trade negotiations.
resulted from the Uruguay round of General Agreement on Tariffs and Trade (GATT) concluded in 1995. WTO's tasks include fostering trade relations among its members, resolving disputes, and serving as a forum for future multilateral trade negotiations.
Illicit practices on the part of individual firms are usually termed "unfair business practices," as distinguished from unfair trade practices (Sec.1) which are actionable under multilateral trade rules.
 See also: Tariff, Tariffs, GATT, WTO, Developing countries
  
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