What are the types of regional trade agreements?

Types of Regional Trading Agreements

  • Preferential Trade Areas. The preferential trading agreement requires the lowest level of commitment to reducing trade barriers.
  • Free Trade Area.
  • Customs Union.
  • Common Market.
  • Economic Union.
  • Full Integration.

What are the three basic types of trade agreements?

Key Takeaways Trade agreements assume three different types: unilateral, bilateral, and multilateral. The WTO helps negotiate global trade agreements.

What are the four basic categories of international trade agreements?


  • Free Trade Agreement.
  • Preferential Trade Agreement.
  • Comprehensive Economic Partnership Agreement.
  • Comprehensive Economic Cooperation Agreement.
  • Framework agreement.
  • Early Harvest Scheme.

What are the main trade agreements?

The WTO oversees four international trade agreements: the GATT, the General Agreement on Trade in Services (GATS), and agreements on trade-related intellectual property rights and trade-related investment (TRIPS and TRIMS, respectively).

Is WTO a regional trade agreement?

As of June 2016, all WTO members now have an RTA in force. Information on preferential trade arrangements notified to the WTO is available in the PTA Database. WTO rules on RTAs. Non-discrimination is a core principle of the WTO.

What are the different types of regional integration?

There are four main types of regional economic integration.

  • Free trade area. This is the most basic form of economic cooperation.
  • Customs union. This type provides for economic cooperation as in a free-trade zone.
  • Common market.
  • Economic union.

How many types of trade agreements are there?

However, there are two types of free trade agreements: namely, bilateral and multilateral. Every customs union, trade common market, economic union, customs and monetary union also has a free trade area.

What is the WTO trade agreement?

The WTO agreements cover goods, services and intellectual property. They include individual countries’ commitments to lower customs tariffs and other trade barriers, and to open and keep open services markets. They set procedures for settling disputes.

How many trade agreements are there?

But there are around 420 regional trade agreements already in force around the world, according to the World Trade Organization. Although not all are free trade agreements (FTAs), they still shape global trade as we know it.

Is Nafta a regional trade agreement?

Examples of regional trade agreements include the North American Free Trade Agreement (NAFTA), Central American-Dominican Republic Free Trade Agreement (CAFTA-DR), the European Union (EU) and Asia-Pacific Economic Cooperation (APEC).

What are the three largest regional trade agreements quizlet?

1 NAFTA (The North American Free Trade Agreement): Canada, Mexico, U.S….

  • Canadian FTA (1989)
  • Mexico.
  • de la Madrid: Economic liberalization.
  • Salinas de Gortari: Further liberalization.