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Economic Gains from South-South Trade
Some data have indicated that worldwide South-South trade agreements
have the capacity to accelerate developing countries into prominent posi-
tions within the global economy (Esteevadeordal 2004, 16). Today, 42
percent of developing countries’ exports come from integrated South-South
trade blocs (Esteevadeordal 2004, 16). South-South trade in the world
economy has almost doubled in the last decade (Esteevadeordal 2004,
16). This is in part a result of export expansion in new sectors such as
telemarketing services (Esteevadeordal 2004, 17). However, the doubling
effect is more likely attributable to the rise of large liberalizing markets in
East Asia such as China (Trade and Development Report 2005, 6). Trade
growth has not been as substantial in other South-South RTAs such as
COMESA and AFTA.
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The Regulation of South-South RTAs: An Analysis of AFTA and COMESA
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