Multilateralism and Bilateralism in International Trade
Type de ressource
Auteurs/contributeurs
- Aro, Gilbert (Auteur)
- Nwosu, Chiedozie (Auteur)
- Ngene, Innocent (Auteur)
- Nnadi, Samuel (Auteur)
Titre
Multilateralism and Bilateralism in International Trade
Résumé
The contemporary international system is dominated by international trade. Therefore, it is the fundamental and critical aspect of international economic relations. The study investigated the how African states participate in common bilateral and multilateral trade relations. Its core objective is to study whether trade barriers have been made less cumbersome among the participating countries in African continental region. Common trade and international trade justify the essence of globalization. The wave of globalization has necessitated the flux of multilateralism and bilateralism among the participating nations in the international trade. Methodologically, the study adopted comparative theory of international trade. Its method of data collection is documentary method and analyzed through interpretive studies. As the international trade continues to take the centre stage in the international economic relations; States continue to engage in multilateral and bilateral trade relations. The operations of Transnational Corporations (TNCs) and Multi-national Corporations (MNCs) as non-state actors also engage in multilateral and bilateral agreements with the host states. Several agreements led to the establishment of General Agreement on Tariff and Trade (GATT) and World Trade Organization (WTO) remains conspicuous products of multilateralism and bilateralism in the international trade in the recent time. African Continental Free Trade Area (AFCFTA) is a multilateral agreement enacted by fifty-four members of the African Union (AU) in 2019 to boost trade relations among them. Its core benefit is to facilitate free trade and removal of trade barriers in the region Therefore, this study is set to examine the advantages and impacts of AFCFTA and other multilateral and bilateral agreements in Africa and the world at large.
Publication
African Journal of Politics and Administrative Studies
Volume
17
Numéro
1
Pages
723-732
Date
2024-06-01
Langue
EN
ISSN
2787-0359
Référence
Aro, G., Nwosu, C., Ngene, I., & Nnadi, S. (2024). Multilateralism and Bilateralism in International Trade. African Journal of Politics and Administrative Studies, 17(1), 723–732. https://doi.org/10.4314/ajpas.v17i1.35
Thématiques
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