A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Some market access negotiations in the WTO for goods and services have been conducted on the basis of bilateral requests and offers. Accession negotiations are confined to requests by existing members. Requests are normally made by countries that have a significant interest in the traded product. Offers can be made in response to requests or concurrently. When two parties have reached agreement on the extent of new market access they are willing to give and accept, the result must be extended to all other WTO members on a most-favoured-nation basis.
Derived from: Walter Goode: Dictionary of Trade Policy Terms, Fourth Edition, (Cambridge University Press/WTO, 2003), p.295