Ironically, as society drifts towards globalization, regionalism also seems to take place in almost every corner of the globe. In fact, most countries in the world, on all continents, are members of regional trade agreements through either customs unions, free trade areas, or other preferential arrangements. Over 200 regional trade agreements (RTAs) exists and have been notified to the World Trade Organization (WTO) and over 150 of those agreements are in force. Most of these agreements have been concluded in the past ten years and cover mainly trades in goods or services, or a combination of both. To further complicate the issue of RTAs, many countries are members of several agreements; oftentimes these multiple agreements have differing rules. Europe seems to be taking the lead in regards to RTAs with sixty percent of the notified RTAs in force at the end of 2000 whereas developing countries only account for about fifteen percent of the total RTAs in 2000. The question that arises is whether the growth of regional groups helps or hinders the development of multilateral trading systems.
             Many countries are trying to balance between global and regional trade organizations. To understand the relative advantages of regional versus global organizations you must consider why international organizations are created. According to Yale University's Bruce Russett, some organizations have single or multiple purposes, however, according to Russett, all international trade organizations have these purposes or functions. First, to secure peace among their members; second, to provide for external security vis-â-vis other states; third, to carry out a variety of economic-related tasks, such as development, managing or promoting interdependence; fourth, to address problems of environmental protection, and lastly, to secure human rights. These purposes or functions are normally carried out by a wide range of international org...