Future of Regional Blocs

A. S. Bhalla and P. Bhalla

Chapter 8 in Regional Blocs, 1997, pp 196-207 from Palgrave Macmillan

Abstract: Abstract The nineties are witnessing several simultaneous trends in trade, investment and production patterns. The trend towards trade liberalization which had already begun in earnest by the mid-eighties during the protracted negotiations of the Uruguay Round, gained momentum following its successful conclusion. Uncertainties as to its outcome had provoked several regional trade agreements as possible alternatives to the multilateral trading system. While the Uruguay Round Accord was finally concluded in 1994, some lacunae in its provisions (notably, failure to reach agreements on agriculture, services and trade-related investment measures) and ambiguities and loopholes in the GATT, notably Article XXIV, have in part, led to an increasing reliance on new forms of regional arrangements. These are aimed at boosting trade- and investment-led growth and improving member countries’ abilities to remain competitive.

Keywords: Foreign Direct Investment; Trade Liberalization; Foreign Direct Investment Inflow; Uruguay Round; Free Trade Area (search for similar items in EconPapers)
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-25811-6_8

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DOI: 10.1007/978-1-349-25811-6_8

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