On the interaction between preferential trade agreements and multilateralism

Halis Murat Yildiz

Chapter 30 in Elgar Encyclopedia of International Trade, 2026, pp 153-157 from Edward Elgar Publishing

Abstract: One of the striking features of today's global policy landscape is the widespread prevalence of preferential trade agreements (PTAs). This entry examines the static and dynamic economic consequences of PTA formation as well as their implications for the evolution of the world trade system. Moreover, an increasingly interdependent world has raised the need for cooperation over non-trade measures, such as regulating intellectual property rights, labor standards, investment measures, and environmental externalities. Many PTAs are now referred to as deep PTAs, as they extend beyond traditional trade liberalization motives to encompass a broad range of non-tariff policy areas, both at the border and behind-the-border. This entry argues that the welfare effects of deeper PTAs among a small subset of countries and their implications on further multilateral negotiations are not clear. Due to the revival of recent protectionism, the future of both the existing and newly formed shallow/deep agreements is highly questionable.

Keywords: Preferential Trade Agreements; Trade Policy; Welfare; Deep Trade Agreements; Protectionism (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035327492
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