Bilateralism
Bilateralism: a preference for conducting international trade policy mainly through bilateral negotiations. Bilateralism assumes that results are more easily obtained if only two parties are involved, partly because available economic or political pressure would be less diluted. In principle, fewer diverting factors are involved. This is true in cases where it is possible to isolate the the purely bilateral dimension. Often this cannot be done since at least one of the parties may have obligations in the same matter towards third parties. Some advocates of bilateral negotiations see them as the only valid way for achieving results. The history of bilateral negotiations since the mid-1980s casts doubt on the general validity of this proposition, but bilateralism has been used with success for the resolution of some selected issues. The effectiveness of bilateral approaches depends on the amount of negotiating coin a country has to influence the behaviour of the other. It is largely an approach which works more in favour of the strong and against the interests of small and medium-sized countries. Bilateralism can also introduce additional tensions into the multilateral system. One form of
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
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Author of the text: W. Goode
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