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

The multilateral framework of international trade refers to a system of trade regulations and agreements involving three or more countries. This framework is designed to promote global trade by setting rules and standards for trade, resolving disputes, and reducing trade barriers. The multilateral approach contrasts with bilateral or regional agreements, which involve only two or a limited number of countries. The main goal of the multilateral framework is to create a fair, transparent, and predictable trading environment on a global scale, which can foster economic growth and development for all participating nations.

One of the key institutions of the multilateral framework is the World Trade Organization (WTO), which succeeded the General Agreement on Tariffs and Trade (GATT) in 1995. The WTO is responsible for overseeing international trade rules, monitoring trade policies, and providing a platform for ___ _____ ________ ___ ___ __________ ________.
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