This document discusses three types of trade agreements: unilateral, bilateral, and multilateral. A unilateral agreement involves a promise from one party without obligations on the other. Bilateral agreements involve mutual promises between two parties/nations. Multilateral agreements are the most complex as they involve multiple nations agreeing at the same time, but are also the most impactful once signed. Examples of bilateral agreements between India/China and India/Japan are provided. NAFTA and CAFTA are presented as examples of regional multilateral trade agreements.
RSA Conference Exhibitor List 2024 - Exhibitors Data
Bilateral agreements- Yashvanth G Nayak
1. UNILATERAL TRADE AGREEMENT, BILATERAL TRADE
AGREEMENT AND MULTILATERAL TRADE AGREEMENT
Yashavantha G Nayak
Assistant Professor
St Philomena College Puttur
2. UNILATERAL TRADE AGREEMENT, BILATERAL TRADE
AGREEMENT AND MULTILATERAL TRADE AGREEMENT
Uni means one. So a unilateral agreement must involve “ one of something ”.
A unilateral agreement is where one party makes a promise, declaration or offer.
A radio station RJ tells the audience that he will pay a listener 100$ if he can
answer a question. The radio station is the promisor and the listener is the
promisee. The two sides of the agreement are not equal or mutual. The promisor
offers money and the promise must offer an answer.Under the unilateral trade
agreement, only the promisor is bound by consideration.The unilateral agreement
“ may or may not occur ”.
3. BILATERAL TRADE AGREEMENT :
• An exchange agreement between two nations or trading groups.
• In other words a contract involving mutual promises( each party is both
promisor and promise). In a bilateral contract both parties are bound by their
exchange of promises.
4. List of agreements signed during the visit of PM to China (May 15,2015)
• Memorandum of understanding between the ministry of skill development and
entrepreneurship of the Republic of India and the Ministry of Human Resources and
social security of the people’s republic of china on cooperation in the field of skill
development.
• Action plan on cooperation in setting up of Mahatma Gandhi National institute for
skill development and entrepreneurship in Ahmedabad.
• Action plan between the national railway administration of the people’s republic of
china and the ministry of railways of the republic of India on enhancing cooperation
the railway sector.
5. INDIA AND JAPAN SIGN AGREEMENTS TO BOOST
BILATERAL TIES
• The agreements signed included one Memorandum Of Understanding( MOU) in the
field of Tourism.
• The Memorandum was signed between Japan Tourism agency,Ministry of Land,
Infrastructure, transport and tourism. The MOU aims at promoting tourism between
the countries.
• Education, culture,sports,science and technology.
• ODA ( Official Development Assistance) loan for Uttarkhand Forest Resource
Management Project.
•
6. MULTILATERAL TRADE AGREEMENT
Multilateral Trade Agreements are among nations at one time. This makes them
extremely complicated to negotiate, but very powerful once all parties sign.
7. Some regional trade agreements are multilateral. These include :
• North American Free Trade agreement ( NAFTA) : ( January 1, 1994 ) This
between the US, Canada and Mexico is the largest in the world.
• Central American- Dominican Republic Free Trade Agreement :
( Signed on August 5,2004 )
It eliminated tariffs on more than 80% of US exports to six countries.
