Question
Assessing the relationship between the WTO and the regional trade agreements (RTAs), as well as the nature and characteristics of the regional trade agreements, do the regional free trade agreements support or undermine progress in the WTO towards removing barriers to trade and investment? You can choose either answers (support or undermine). However, you have to explain your reasons and make your arguments.
Argument
Regional trade agreements (RTAs) seem to compete with the WTO, but often they can actually support the WTO’s multilateral trading system. RTAs have allowed countries to negotiate rules and commitments that go beyond what was possible multilaterally. In turn, some of these rules have paved the way for agreement in the WTO. Services, intellectual property, environmental standards, investment and competition policies are all issues that were raised in regional negotiations and later developed into agreements or topics of discussion in the WTO.
Sample Solution
