TRADE POLICIES AND MULTILATERAL TRADE AGREEMENT. A THEORETICAL AND PROSPECTIVE PAPER ON GLOBALIZATION

Abstract

Multilateral trade agreements are between many nations at one time and because it involves more than one country, they’re very complicated to negotiate since every nation is autonomous in their choices with whom they want to have a trading deal with. Once all participating countries sign the agreement, multilateral trade agreement becomes very powerful tool for trade. One can draw a dichotomy between multinational trade and trade policies, the latter usually formulated by public officials of each country. Without strong and firm trade policies guiding multilateral trade, the trade objective will be undermined and defeated. This paper will primarily discuss and focus on various aspects of NAFTA as detailed out by some researchers in their emerging theories.