In 1995, GATT became the World Trade Organization (WTO), which now has more than 140 member states. The WTO controls four international trade agreements: the GATT, the General Agreement on Trade in Services (GATS) and the Trade-Related Intellectual Property Rights and Trade Investment Agreement (TRIPS and TRIMS). The WTO is now the forum for members to negotiate the removal of trade barriers; The most recent forum is the Doha Development Round, launched in 2001. The development of a regional trading bloc should stimulate the development of others. This can result in trade disputes, such as the . B between the EU and Nafta, including the recent dispute between Boeing and Airbus (EU). The EU and the US have a long history of trade disputes, including the US steel tariff dispute, which were declared illegal by the WTO in 2005. In addition, there are the so-called beef wars, where the United States imposes $60 million tariffs on EU beef in response to the EU`s ban on American beef treated with hormones; and complaints to the WTO about each other`s generous agricultural aid. In the 1970s, many former British colonies formed their own trading blocs in response to the UK`s accession to the European Common Market. Some proponents of global free trade oppose trade blocs. Trade blocs are seen by them to promote regional free trade at the expense of global free trade. [4] Those who work there argue that global free trade is in the interest of each country, as it would create more opportunities to transform local resources into goods and services currently demanded by consumers. [5] However, scientists and economists continue to discuss whether regional trading blocs are fragmenting the global economy or promoting the expansion of the existing global multilateral trading system.

[6] [7] The list below includes ten major regional trading blocs in the global economy. These blocs are made up of countries within a certain geographical border that have chosen to cooperate with each other to achieve the goal of regional economic growth. This list of the world`s largest regional trading blocs contains information on the importance of blocs in the global economy, foundations, objectives, Member States and major trading partners. It depends on where you export. There is much information available online on the UK`s free trade agreements, both inside and outside the EU. In addition, DIT is able to help UK exporters overcome trade barriers, so you can turn to them at any time for advice. The recent round of multilateral trade negotiations within the World Trade Organization continues, as more and more participants have their own views on what should be up to each country, including its own. The appeal of free trade agreements will remain high, as the benefits evolve with a changing global market – with the advent of the Internet and other technologies and English-speaking labour abroad, material goods are no longer content to be exchanged between countries.

Countries interested in expanding trade will bypass delays in the WTO by concluding their own agreements. The extension of existing trade agreements is also taking place, as in the case of the extension of NAFTA to the U.S. Free Trade Agreement (NAFTA). The U.S. market is extremely desirable and lucrative for exports from small countries, while providing access to a wider variety of goods and services from the United States and other potential trading partners. Among the most elaborate ATRs are rules on investment flows, coordination of competition policies, agreements on environmental policies and the free movement of workers.