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Regional trade arrangements have recently attracted growing interest, as existing schemes are either being extended or revived and new groupings are being formed. This study reviews recent initiatives and the experience with regional integration in industrial and developing countries and discusses the implications of the recent expansion of the trend for the multilateral trading system.

Foreign trade policy --- International trade --- Commercial treaties --- International trade. --- Commercial treaties. --- Trade agreements (Commerce) --- Competition, International --- Foreign trade regulation --- Treaties --- Reciprocity (Commerce) --- External trade --- Foreign commerce --- Foreign trade --- Global commerce --- Global trade --- Trade, International --- World trade --- Commerce --- International economic relations --- Non-traded goods --- Exports and Imports --- Taxation --- Trade Policy --- International Trade Organizations --- Financial Aspects of Economic Integration --- Trade: General --- International economics --- Public finance & taxation --- Customs unions --- Trade liberalization --- Trade barriers --- Tariffs --- Trading arrangements --- Taxes --- Commercial policy --- Protectionism --- Tariff --- International economic integration --- United States