Question

Find out the major trade blocks which are useful for multilateral trade.

Answer 1

Major trade blocks useful for Multilateral trade:

• EU: European Union
• APEC: (Asian Pacific Economic Community).
• ASEAN: (Association of Southeast Asian Nations)
• SAPTA: (South Asian Preferential Trade Agreement)

These trade blocks made international trade easier. All member countries who signed the agreement are treated equally. These trade blocks remove the barriers and complications that arose between nations in international trade.