WTO's Azevedo Sees Bigger Results in Multi-Lateral Trade

The video discusses the preference for bilateral trade approaches over multilateral ones, highlighting the complexities and benefits of each. It also covers the WTO's role in facilitating trade agreements and its involvement in Brexit negotiations, emphasizing the need for patience and collaboration in multilateral discussions.

What is the main reason bilateral trade negotiations are often preferred?

• They require more patience.

• They involve more countries.

• They are quicker and more focused.

• They offer larger benefits.

Why is multilateralism considered more complex than bilateralism?

• It requires less time to negotiate.

• It involves fewer countries.

• It involves more countries and takes more time.

• It offers smaller benefits.

Which recent achievement is mentioned as a result of multilateral negotiations?

• Increase in bilateral trade agreements.

• Reduction of tariffs on technology products.

• Introduction of new agricultural subsidies.

• Expansion of the information technology agreement.

What role does the WTO play in the Brexit negotiations?

• It provides support and will review new commitments.

• It has no involvement in the negotiations.

• It directly negotiates terms between the UK and EU.

• It imposes trade rules on both parties.

What must the UK and EU do with their new commitments post-Brexit?

• Submit them to the United Nations.

• Present them to the WTO members.

• Keep them confidential.

• Negotiate them with the United States.