Regional Trade Agreements Boost Agricultural Trade, Benefit Developing Nations
The article looks at how three regional trade agreements affect trade in agriculture. The agreements have increased trade between member countries without diverting trade from outside the region. However, there hasn't been much increase in trade with non-member countries. Issues like transport and supply constraints can limit the impact of these agreements on trade. Trade costs like transport and logistics still play a big role in agricultural trade. Some countries in these agreements export similar agricultural products, reducing the benefits of preferential market access. Overall, the agreements have had a positive impact on trade within their regions, but there are still challenges to overcome.