The proliferation of regional trade agreements and their impacts on the multilateral trading system have caused one of the most intense academic debates of the present times. In this context, this article will attempt to evaluate if Regional Trade Agrements (RTAs) are complementary with the global trading system or if regionalism and multilateralism are mutually exclusive. This question will be approached by analyzing the EU-Mexico Agreement (The Global Agreement) and establishing if its creation has contributed to or hindered the WTO-based system.
The Global Agreement represents a valuable study case for a number of reasons. Firstly, both the EU, which is the most advanced form of regional integration, and Mexico are also parts of several other regional agreements, as well as of the WTO. This offers a perfect example of the 'spaghteti bowl' phenomenon. Secondly, this is the first RTA signed by the EU with a country in the western hemisphere, a fact that proved to be path-opening for further such agreements.
In the context of the academic debate, the EU's constant position reflects its commitment to the multilateral trading system, and its pursuit of RTAs is mainly motivated by the belief that regional integration will lead to further liberalization and to 'deep integration'. For this reason, the analysis conducted in this article focuses on the EU's 'deep integration agenda' in order to establish if it is indeed a plausible stand.
Corina Ciambur is a MSc graduate of the University of Edinburgh, her research interest include: International Trade, EU Trade Policy, Regional Trade Agreements and the WTO.
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