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What is GATT 1994: Regional Trade Agreements Explained about?

This chapter examines the exception for regional trade agreements (RTAs) under Article XXIV:5 of GATT 1994. This exception aims to maximize internal trade liberalization within an RTA while minimizing external trade restrictions compared to the pre-RTA situation. The exception applies to customs unions and free-trade areas and can justify departing from MFN treatment, provided certain conditions are met. Namely, trade restrictions must be eliminated internally and not increased externally. However, determin

Author

Nevena Bebić

Language

EN