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English definition of “bilateralism”


noun [U]     /ˌbaɪˈlætərəlɪzəm/ ECONOMICS
a situation in which two countries or organizations have a trade agreement or work together to achieve something: This surge of bilateralism is undermining the multilateral approach to tariff cuts , and could pose a big threat to the open trading system . → Compare multilateralism
(Definition of bilateralism noun from the Cambridge Business English Dictionary © Cambridge University Press)
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