Multilateral trade refers to the exchange of goods and services between three or more countries. This type of trade is often facilitated through agreements or organizations, such as the World Trade Organization (WTO), which aim to reduce trade barriers and promote fair competition among nations. By participating in multilateral trade, countries can access a larger market, leading to increased economic growth and consumer choice. In multilateral trade, countries negotiate terms that benefit all parties involved, creating a framework for cooperation. This approach contrasts with bilateral trade, which involves only two countries. Multilateral agreements can cover various aspects, including tariffs, quotas, and trade regulations, fostering a more interconnected global economy.