Answer
A country can take one of two approaches to achieving free trade. It can take a unilateral approach and remove its trade restrictions all on its own. Alternatively, a country can take a multilateral approach and reduce its trade restrictions while other countries do the same. In other words it can bargain with its trading partners in an attempt to reduce trade restrictions around the world.
Work Step by Step
An example of a unilateral approach is the one that Great Britain took in the 19th century and that Chile and South Korea have taken in recent years.
One important example of the multilateral approach is the North American Free Trade Agreement (NAPTA) which in 1993 lowered trade barriers among the US, Mexico and Canada.
