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'Multilateral' trading system ... i.e. the system operated by the WTO. Most nations - including
almost all the main trading nations - are members of the system. But some are not, and
that is why the word "multilateral" is used, instead of "global" or
"world", to describe the system.
In WTO affairs, the word has an additional
important meaning. Here, "multilateral" refers to activities on a global or
near-global level (in particular among all WTO members). It contrasts with actions taken
regionally or by other smaller groups of countries. (This is different from the common use
of the word in other areas of international relations where, for example, a
"multilateral" security arrangement can be regional.) Return to Slide 2 |