Bilateral and multilateral trade agreements are agreements that are signed between two or more countries and their purpose is to facilitate trade and remove barriers to trade. These agreements can include financial obligations, customs tariffs, health and technical regulations, intellectual property rights, and other trade-related matters.

Bilateral trade agreements are usually signed between two countries and can be implemented quickly on a small scale due to their simpler design and implementation. These agreements can be very useful for developing countries that are looking to grow their trade. For example, bilateral trade agreements can help countries that have specific products and are looking for export markets. By signing these agreements, the trade between the two countries will be facilitated and the obstacles in the way of trade will be reduced.

Multilateral trade agreements are much more important as agreements signed between several countries. These agreements can have a great impact on the growth of global trade. One of the most important multilateral trade agreements is the World Trade Organization (WTO). This organization strives to reduce trade barriers and regulate international trade rules and regulations. Despite the existence of multilateral trade agreements, global trade is conducted in a more extensive manner and countries can easily access global markets.

Bilateral and multilateral trade agreements have advantages and disadvantages. One of the benefits of these agreements is to facilitate trade between countries. By signing these agreements, trade barriers are reduced and countries can easily export their goods and services to global markets. In addition, these agreements can contribute to economic development and job creation in countries.

But as mentioned, bilateral and multilateral trade agreements also have disadvantages. One of the disadvantages of these agreements is their unbalanced effect on countries. For example, small and developing countries may have trade imbalances with large countries and do so to their disadvantage. Also, some bilateral and multilateral trade agreements may benefit some industries and businesses while harming others.

Finally, bilateral and multilateral trade agreements play an important role in the growth of global trade. These agreements can help facilitate trade between countries, economic development and job creation. By signing these agreements, world trade is carried out in a more and wider way and countries can easily access the world markets. However, we should pay attention to points such as the unbalanced impact of agreements and the benefit of some countries and try to sign fairer agreements for all countries.