Review:
Bilateral Trade Agreement
overall review score: 4.5
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score is between 0 and 5
A bilateral trade agreement is a pact between two countries to facilitate trade and investment by reducing or eliminating tariffs, quotas, import/export restrictions, and other barriers.
Key Features
- Promotes economic growth
- Increases market access
- Encourages foreign direct investment
- Enhances competitiveness
- Improves bilateral relations
Pros
- Stimulates economic activity
- Creates jobs
- Expands export opportunities
- Strengthens diplomatic ties
Cons
- May lead to job losses in certain industries
- Can favor larger economies over smaller ones
- May result in unequal benefits for both countries