Regional Trade Agreements as a Factor of Further Liberalisation of International Trade
Journal Title: Бізнес Інформ - Year 2014, Vol 5, Issue 0
Abstract
The article considers tendencies of development of the process of liberalisation of international exchange within the international trade system in general and reasons, specificity and role of regional trade agreements in this process. The article analyses evolution of the process of liberalisation of international trade that lasted for nearly half a century under the aegis of the General Agreement of Tariffs and Trade and then lowed down and, in fact, was discontinued after establishment of the World Trade Organisation. In the result of the study as an objective ground of appearance and wide popularity of regional trade agreements, the article detects very sharp contradictions between participants of the international trade and loss of confidence in WTO capabilities in their solution. The article shows that the main vector in development of regional trade agreements is formation of more favourable conditions for trading than the international-legal discipline provides being supported by a multi-sided trade system. A conclusion is made that the wider regional trade agreements are spread, the more chances for acceleration of liberalisation and development of new rules of exchange within the international trade system in general.
Authors and Affiliations
Olena Dovhal
Keywords
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- EP ID EP152583
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