It is customary for a country to enter into a trade agreement with only one other country thus showing respect and loyalty to the agreement true or false

True, it is a business culture and etiquette to stay true based on the agreements presented by both concerned countries. This builds respect and trust if they follow. Also, this can be a recommendation to other countries. To the business world, patience is a key to be successful, it helps to understand how to win deals and future transactions based on existing cultural business practices.