1945

European Union-India bilateral free trade agreement: Potential implications for the excluded low-income economies in Asia and Africa

Since the beginning of the 1990s the world has witnessed ambitious multilateral trade negotiations together with a proliferation of regional trading blocs. With the inception of the World Trade Organization (WTO) in 1995 as an institution to oversee the multilateral trading system and promotion of trade, many people thought that multilateralism would eventually reduce the scope of regionalism. Nevertheless, since 1995, the number of regional trade agreements (RTAs) has increased from less than 150 to more than 250. Today, the quantum of global trade conducted through RTAs and preferential trade agreements (PTAs) is more than 50 per cent of total trade flows.

Related Subject(s): International Trade and Finance
Sustainable Development Goals:
Countries: India
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