Which of the following is true regarding Bilateral agreements?

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It is the exchange of goods between two nations

It is done in order to promote investment

Countries eliminate tariffs and quotas

All of the above

answer is D.

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Detailed Solution

All the given statements are true regarding Bilateral agreements.
The exchange of products between two countries to further commerce and investment is referred to as bilateral trade. The two nations will lower or do away with tariffs, import quotas, export restrictions, and other trade barriers to promote trade and investment. Bilateral trade agreements primarily benefit a country by increasing the market for its products through coordinated bargaining between two nations. Bilateral trade agreements may be negotiated more readily than multilateral ones because they only involve two countries. Therefore, compared to multilateral accords, bilateral trade agreements produce economic advantages sooner.

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