COMCEC Trade Outlook 2016
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Figure 7: Evolution of Share of Developing Countries in World Exports
Source: ITC Trademap
A fourth major pattern was the proliferation of Regional Trade Agreements (RTAs). Many
countries participate to the existing RTAs or initiate new ones. The European Union, The
European Free Trade Association (EFTA), The North American Free Trade Agreement
(NAFTA), The Southern Common Market (MERCOSUR), The Association of Southeast Asian
Nations (ASEAN) Free Trade Area (AFTA), and the Common Market of Eastern and Southern
Africa (COMESA) are among the best known RTAs. While the World Trade Organization (WTO)
expanded, reaching 164 Members and 20 Observers by July 2016, countries also initiated new
RTAs to increase their competitiveness in foreign markets during the last decade. As of 1st July
2016 the number of RTAs in force reached 267. Figure 8 below shows the increasing number of
RTAs since 1958. According to WTO6 data Free Trade Agreements and partial scope agreements
account for 90 per cent, while customs unions account for 10 per cent of these RTAs.