Preferential Trade Agreements: Building Blocks Than Stumbling Blocks
- Economic & Political Weekly
- 60(23), Jun 14, 2025: p.11-14
Preferential trade agreements are a prevailing characteristic of the international trading landscape. This article argues that PTAs are building blocks for the multilateral trading regime. They serve as experimental platforms, promote transparency and dispute resolution, aligning with WTO rules while addressing new regulatory challenges. Despite criticisms of PTAs as “second best,” they play a crucial role in advancing global trade, offering a complementary approach to multilateral agreements, and potentially leading to a more inclusive and resilient trading system. - Reproduced https://www.epw.in/journal/2025/24/commentary/preferential-trade-agreements.html