Dealing constructively with subsidies in global commerce is central to G20 leaders’ goal of reforming and strengthening the multilateral trading system. The growing use of distortive subsidies alters trade and investment flows, detracts from the value of tariff bindings and other market access...

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...