Abstract
The process of globalization including trade liberalization generated a number of agreements all over the world, varying from bilateral preferential trade agreements to world-scale integrations like the European Union. Bhagwati (1993) recognizes two waves of creation of RTAs. The first one took place in the1960s and 1970s and did not spread beyond Western Europe. The second one started in the 1980s when US changed its trade policy from multilateral approach to regional liberalization of trade within RTAs. There are large number of RTAs already notified to the GATT/WTO till December 2008 and the more is expected by 2010 (detail in Chapter 1).
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Mukhopadhyay, K., Thomassin, P.J. (2010). Review of Literature. In: Economic and Environmental Impact of Free Trade in East and South East Asia. Springer, Dordrecht. https://doi.org/10.1007/978-90-481-3507-3_2
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DOI: https://doi.org/10.1007/978-90-481-3507-3_2
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