The Interpretation Problems Surrounding GATT Article XXIV and their Implications for Multilateralism in the WTO System

Abstract

The proliferation of Regional Trade Agreements (RT As) has attracted a lot of attention in contemporary discussions of multilateral trade regulation. There were widespread attempts at regional trade agreements in the early 1920's but it is the current spate of RT As that continues to cause a lot of controversy among trade policy makers and analysts alike. There are compelling socio-economic and _political factors that make RTAs attractive tools for further liberalization of trade. Likewise, it can not be denied that the same presents the world trading system with challenges which if not managed could divide world trade as was experienced in the 1930's.