Abstract
Since the establishment of the World Trade Organization (WTO) in 1995, the number of Regional Trade Arrangements (RTAs) has grown dramatically 1 At present, more than half of the world's trade takes place within RTAs. According to the WTO, as of January 15, 2012, the GATT/WTO had received some 511 no fica ons of RTAs (coun ng goods and services separately), as compared with 40 such notifications in 1990. Corresponding to this increase in volume, the coverage of RTAs has also expanded over time to include services, trade and investment, competition, government procurement, electronic commerce, labor and environmental standards, in addition to preferential liberalization of tariffs and other measures governing merchandise trade.
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