Explain multilateral framework of international trade. Explain its main features

Multilateral framework of international trade are commerce treaties among three or more nations. The agreements reduce tariffs and make it easier for businesses to import and export. Since they are among many countries, they are difficult to negotiate. 

That same broad scope makes them more robust than other types of trade agreements once all parties sign. Bilateral agreements are easier to negotiate but these are only between two countries.

The main features of mutilateral framework of international trade are :

.1. Since 1995, OECD Member countries and the European Commission have been engaged in negotiations to develop a multilateral agreement on investment (MAI). Their task is to elaborate the first comprehensive framework for investment with high standards of liberalisation and investment protection, with effective dispute settlement, and open to non-Members. After months of intensive discussions, the essential elements of the agreement are ready (see annex). To fulfil our mandate, we must deliver an agreement on the MAI in time for the 27-28 April 1998 Ministerial meeting. This goal is now within sight.

2. This past year, MAI negotiations have focused on refining the text and exploring solutions to the main political issues, including environment and labour matters.A successful conclusion of the negotiations will depend on achieving agreement on the text and on an exceptions regime  that will, when combined with the disciplines in ____ _______ ____ _________ ________ _____ __________ ___ _______ _______.
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