Taming the Preference

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Exploring the complexities of the World Trade Organization, this book delves into the tension between multilateralism and bilateralism, particularly through Preferential Trade Agreements (PTAs) and Free Trade Areas (FTAs). It examines whether PTAs serve as lex specialis or lex posterior in relation to WTO law, highlighting the implications for member autonomy and trade benefits. The role of the Committee of Regional Trade Agreements is critiqued for its inactivity, and the book addresses interpretative gaps in GATT Article 24 regarding "substantially all the trade." Additionally, it analyzes trade patterns using a gravity equation, identifying key PTA partnerships.