For the less developed countries e.g. Mexico, it is imaginable that these countries would gain fewer benefits when drafting multilateral trade deals with a huge trading bloc. With FTAs, less developed countries can be more assured of economic reforms and continuous injection of foreign investments.
Multilateral trade agreements are costly and significantly time-consuming... displayed 300 characters
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In the past three decades, only two multilateral deals were made: the Tokyo Round in 1979 and Uruguay Round in 1994 [3]. Comprehensive multilateral FTAs could delay many countries from integrating into a more liberalized economy in the longrun. Furthermore, it is argued that for countries like Australia, the loss of sovereignty when participating in international agreements and institutions like WTO can prevent Australia from integrating into further trading liberalisation [4]... displayed 300 characters
