Review:
Regional Trade Agreements
overall review score: 4.2
⭐⭐⭐⭐⭐
score is between 0 and 5
Regional trade agreements (RTAs) are treaties between two or more countries that are designed to reduce trade barriers and promote economic cooperation within a specific region.
Key Features
- Trade liberalization
- Customs cooperation
- Market access provisions
Pros
- Promotes economic growth
- Enhances market access for participating countries
- Encourages foreign direct investment
Cons
- Potential for trade diversion
- Complexity in negotiation and implementation
- May exclude non-participating countries