India-Pakistan Trade Relations: An Introduction
The past two decades have witnessed a perceptible shift toward increased economic integration across the globe. Economies have adopted several unilateral measures toward this end, such as the deregulation of domestic markets and greater commitment to trade and investment agreements. A crucial feature of this enhanced integration has been its regional focus due to the failure of multilateral negotiations under the WTO, as can be seen from the movement among European nations toward becoming a single economic entity, as well as from the multifaceted economic agreements among members of the MERCOSUR, ASEAN, and GCC regions. The nature of regional economic arrangements has also progressed to encompass not only conventional clauses regarding trade and investment but also the freer flow of technology and information, the harmonization of regulatory regimes, the coordination of cross-border policies, as well as, in a few cases, the cross-border mobility of people. Thus, regional integration and cooperation have deepened over recent years.