Trade agreements and business

Many governments prefer to liberalize as part of the conclusion of trade agreements. While economists tend to argue in favour of unilateral liberalization, policymakers tend to lean towards reciprocity (Bhagwati, 2002). The choice between unilateral liberalization and reciprocal liberalization is often down to the size of the countries concerned and the extent to which they may be able to influence world prices. In that sense: unilateral liberalization tends to be favoured by countries that are too small to have any appreciable effect. Large countries that have the power to do so tend to negotiate reciprocal agreements.

Sustainable Development Goals:

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions