Trade cooperation refers to collaborative efforts between countries aimed at promoting economic interactions such as buying, selling goods/services, investment partnerships, and removing trade barriers.
Related terms
Free Trade Agreement (FTA): An international agreement between countries that eliminates or reduces trade barriers (tariffs, quotas) to boost economic cooperation.
Import/Export: The act of bringing goods/services into a country (import) or sending them out of the country (export) for trade purposes.
Comparative Advantage: The ability of a country to produce certain goods or services more efficiently than others, thus giving them an advantage in international trade.