Longman Dictionary English From Longman Business DictionaryRelated topics: Economicsmultilateralismmul‧ti‧lat‧e‧ral‧is‧m /ˌmʌltɪˈlætərəlɪzəm/ noun [uncountable] ECONOMICS when there is complete freedom of trade and exchange between countriesBy 1947, multilateralism within Europe had collapsed. ldoceonline.com