The Regulation of South-South RTAs: An Analysis of AFTA and COMESA

Abstract

The recent rise in regional and bilateral preferential trade agreements (PTAs) highlights the need for further analysis of the “spaghetti bowl” of agreements and regulations that inte grate global markets. This article gives specific attention to the regulation of South-South regional trade agreements (RTAs) and these agreements’ capacity to generate new flows of intra regional trade. The author uses an interdisciplinary approach to examine both the legal frameworks and economic impacts of different South-South RTAs. Case studies of AFTA and COMESA offer insight into the inadequacies of the multilateral trading system’s current regulations, which promote trade in blocs of industrializing member-states. The article concludes with various recommendations to improve South-South RTAs’ ability to foster intra-regional trade and encourage liberal trade practices between emerging market economies.