What Is a Multilateral Agreement?

A multilateral agreement is any agreement among three or more parties. The term usually refers to agreements between multiple nations or international organizations, but any agreement between more than two individuals, businesses or agencies may also be described as a multilateral agreement.

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Multilateral Agreements in International Relations

Commonly, multilateral agreements refer to treaties among three or more nations or international organizations. Very often, when someone refers to a "multilateral agreement," he is referring to a trade agreement among three or more nations. For example, the North American Free Trade Agreement, or NAFTA, is a multilateral trade agreement among the USA, Canada and Mexico. International organizations are usually formed by multilateral agreements: the World Trade Organization started as the General Agreement on Trade and Tariffs. Multilateral agreements can go by many names, including "treaties," "accords" and "conventions," and they can include military pacts like NATO and environmental protection arrangements such as the Kyoto Protocols.

Other Types of Multilateral Agreements



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Source: ehow.com

Category: Forex

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