ABSTRACT
Regional trade agreements (RTAs) have proliferated around the world over the past decades. As of June 2017 445 RTAs had been notified to the World Trade Organization (WTO), of which 279 are in effect. All members of the WTO belong to at least one RTA. The share of world trade that flows between pairs of countries that share an RTA is well over 40 per cent. For the most prolific integrators such as Chile, Peru, Mexico, the Republic of Korea (South Korea) and Singapore, RTAs govern most of their trading relationships. RTAs matter to world trade, and they are here to stay.
