Question

Discuss Global and Regional Trade Agreements and Their Current Status.

Answer 1

There is only one global trade agreement that is World Trade organization. It makes rules and regulations regarding the trading activities among the nation. All the members who are part of WTO have to follow it's rules.

Regional trade agreements are signed by two or more countries. It helps in free flow of goods and services from one country to another. All those countries who are part of regional trade agreements have to follow it's guidelines.

Due to increasing globalization, trade agreements are increading. The current status of these trade agreements is very promising and are increasing more in numbers. This means that more and more countries are now indulging in trade agreements and entering into international markets with the aim of being developed and boosting their economic growth.

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