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...Chapter regional integration overview of rules in addition to the global economic regime based on gatt and imf systems which has sustained world economy since war ii regionalism through neighbouring countries seek strengthen their economies by entering into some form become a major trend this was triggered eu market both developed developing customs unions free trade areas ftas continue increase expand today they account for considerable amount figure wto agreement rtas is referred as interim agreements we use term signify other forms cooperation almost percent members are parties such japan korea hong kong among few exceptions article xxiv allows be exempted from most favoured nation principle under certain conditions must not raise barriers with outside region because while promote liberalization within respective regions if would impede whole standpoint adequate application should needed lest turned an empty shell moves towards recent years have been more active seeking ties europe ...