The landscape of regional trade agreements and WTO surveillance

Regional trade agreements (RTAs) have become so prominent in recent years that they permeate much of the discourse on international trade. The current scale of RTA proliferation is unprecedented both in quantitative and qualitative terms. A bewildering range of geographical configurations and varying policy content characterize the new agreements. This trend is likely to continue. The embrace of RTAs by virtually every trading nation carries systemic implications for the multilateral trading system, most notably through increased discrimination and complexity in trade relations and by undermining the transparency and predictability of trade relations.