Regional trade agreements are increasing in number and are changing in character. Fifty trade agreements entered into force in 1990. In 2017, there were more than 280. In many trade agreements today, negotiations go beyond tariffs and cover several policy areas that affect trade and investment in goods and services, including cross-border rules such as competition policy, public procurement rules and intellectual property rights. RTAs covering tariffs and other border measures are “superficial” agreements; RTAs covering a wider range of policy areas, both inside and outside the border, are “deep” agreements. Deep trade agreements are an important institutional infrastructure for regional integration. They reduce trade costs and set many of the rules by which economies work. If made effective, they can improve political cooperation between countries, thereby increasing international trade and investment, economic growth and social prosperity. World Bank Group studies show that in cooperation with partners such as the WTO and the OECD, the World Bank Group informs and supports client countries that wish to sign or deepen regional trade agreements. Specifically, the World Bank`s work includes: A Regional Trade Agreement (RCA) is a treaty between two or more governments that sets the trade rules for all signatories. Examples of regional trade agreements include the North American Free Trade Agreement (NAFTA), the Central American-Dominican Republic Free Trade Agreement (DCFTA-DR), the European Union (EU) and the Asia-Pacific Economic Cooperation (APEC). Maliszewska M, Z. Olekseyuk and I.
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