What are multilateral negotiations?

Multilateral negotiations are negotiations that involve more than two parties. Most commonly used in the context of international trade, multilateral trade negotiations often take place in the context of a multilateral trade agreement, like the United States-Mexico-Canada Agreement (USMCA), or as part of the functioning of a large international body, like the United Nations.

What is the meaning of Multilateral Trade?

Multilateral trade is any trade conducted with more than two involved parties, which is known as bilateral trade. Multilateral trade will often involve ongoing multilateral negotiations designed to amend, refine, and alter the terms of any existing trade agreements, norms, or standards. Multilateral trade is typically more complex than bilateral trade but can also give rise to significant benefits not realized in less expansive trade arrangements.