Plurilateral agreements

Definition

Plurilateral agreements are trade agreements between more than two countries but not involving all members of a larger organization like the World Trade Organization (WTO). They are designed to facilitate specific trade liberalization or regulatory measures among the participating countries.

Related terms

Multilateral Agreements: These are agreements negotiated among more than two countries at a global level, aiming for broad applicability and universal benefits.

Bilateral Agreements: Trade or political agreements made between two sovereign states.

Bretton Woods Institutions: Refers to the World Bank and the International Monetary Fund (IMF), established at a meeting of 44 countries in Bretton Woods, New Hampshire, in 1944 to help rebuild after World War II and promote international economic cooperation