Asked by Carol Hersan on Apr 29, 2024
Verified
After years of being closed economies, Bolonasia and Craebanzo, two African nations, finally open their borders to trade with each other. In this case, the two countries are most likely to sign a _____.
A) trade facilitation agreement
B) bilateral trade agreement
C) preferential trade agreement
D) multilateral agreement on investment
Bilateral Trade Agreement
A trade deal between two countries to give each other preferential trade terms, reduced tariffs, and increased access to each other's markets.
- Gain an understanding of the purposes and impacts of historical and current trade agreements, including GATT.
Verified Answer
RC
Rachel CortesMay 01, 2024
Final Answer :
B
Explanation :
A bilateral trade agreement is most likely because it involves two countries agreeing on their trade terms, which fits the scenario of Bolonasia and Craebanzo opening their borders to trade with each other.
Learning Objectives
- Gain an understanding of the purposes and impacts of historical and current trade agreements, including GATT.
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