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Regional Arrangements

In: The World Trading System

Author

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  • Brian McDonald

Abstract

An issue that is of increasing importance in the development of the trading system is the existence of regional trade arrangements. These have often been criticised as distorting the world trading system because of the preferences they create for those inside them. The European Union is of course the prime example of such a regional arrangement. Others are the North American Free Trade Area (NAFTA - the United States, Canada and Mexico); the free trade area between Australia and New Zealand; Mercosur (Brazil, Argentina, Paraguay and Uruguay); the Andean Group (Colombia, Chile, Ecuador, Peru and Venezuela); and in Asia the ASEAN free trade area and APEC (18 countries in the Pacific Basin).

Suggested Citation

  • Brian McDonald, 1998. "Regional Arrangements," Palgrave Macmillan Books, in: The World Trading System, chapter 7, pages 56-62, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37970-1_7
    DOI: 10.1057/9780230379701_7
    as

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