Explain multilateral framework of international trade. Explain its main features.

Multilateral trade agreements or frameworks are made between three or more countries to strengthen the economy of member countries by exchanging of goods and services among them. It has an advantage over bilateral trade agreement because in a multilateral trade agreement tariffs are low and it makes it easier for businesses to import and export. Where as in a bilateral trade agreement, it is highly unlikely that a country will get a better trade deal. For e.g. often developed countries derive __________ ______ ___ ___ _________.
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