Two countries participate in bilateral agreements. Both countries agree to relax trade restrictions to expand business opportunities between them. They reduce tariffs and give themselves privileged trade status. In general, the point of friction is important national industries that are protected or subsidized by the state. In most countries, they are active in the automotive, oil and food industries. The Obama administration negotiated with the European Union the world`s largest bilateral agreement, the Transatlantic Trade and Investment Partnership. All of our business research and analysis can be read free of charge online via the OECD iLibrary Each trade agreement will reduce business success. They cannot compete with a more powerful industry abroad. If the protection rates are removed, they lose their price advantage. When they stop their work, workers will lose their jobs. I think we are well beyond the point of discussion on whether globalization is a good thing or not. Globalization is already under way. We are in the process of determining who will define the rules of globalization and what those rules will be.

The continued participation of the United States in free trade agreements and support for free trade agreements will not only help businesses of all sizes, but will also contribute to the protection of workers` rights and the environment in Member States. The agreement reflects the negligible classification of risks of bovine spongiform encephalopathy (BSE) by the World Organization for Animal Health (OIE) in the United States. The United States has another multilateral regional trade agreement: the Dominican Republic-Central America Free Trade Agreement (CAFTA-DR). This agreement with Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras and Nicaragua eliminated tariffs on more than 80% of U.S. exports of non-textile goods. Trade agreements open many doors for businesses. With access to new markets, competition intensifies. Increasing competition is forcing companies to produce better quality products. It also leads to greater diversity for consumers. If there are a variety of high quality products, companies can improve customer satisfaction.

Regional trade agreements (ATRs) now cover more than half of international trade and operate alongside global multilateral agreements under the World Trade Organization (WTO). In recent years, many countries have actively sought to conclude new bilateral and regional trade agreements, often more modern and progressive, aimed at boosting trade and economic growth.