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A: (1) __________________________B: Very good.A: (2) __________________________B: Oh, yes, they were.
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The proponents of free trade on a global scale have hailed the proliferation of regional trade agreements.
Since 1947, the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO) have achieved great success in fostering regional economic integration.
Existing WTO rules have been less effective in dealing with groups of countries, and the world body has failed to ensure compliance with WTO rules by all members of an economic bloc.
Economic integration allows member states to use resources more productively and to achieve greater total output of the integrated area.
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