The biggest and best known example of a regional trade agreement (RTA) is the:
A) World Trade Organization (WTO)
B) General Agreement on Tariffs and Trade (GATT)
C) European Union (EU)
D) Customs Trade Partnership Against Terrorism (C-TPAT)

Question

Quizplus · Accepted Answer

The European Union (EU) is the biggest and most well-known example of a regional trade agreement (RTA). It is a political and economic union of 27 member states located primarily in Europe. The EU has a single market with free movement of goods, services, capital, and people, as well as a customs union with common external tariffs. This has facilitated trade among members and led to increased economic integration.

The Biggest and Best Known Example of a Regional Trade