IntroductionGlobal trade is a constantly evolving phenomenon and the agreements concluded to govern it have also evolved. In order to stabilize and centralize trade agreements, a multilateral trading system came into existence and people believed that it was an ultimate solution to facilitate trade between different nations and resolve all the problems arising from it. Over time, many countries began to feel the need to close a narrow deal within a concentrated framework, giving rise to regional trade agreements (RTAs) and preferential trade agreements (PTAs). It is essential to assess to what extent these agreements have been able to change the economic scenario in the world. Faced with the proliferation of these agreements, experts have begun to debate whether these agreements are taking precedence over multilateral trading systems, particularly that of the WTO. A number of studies have also been carried out in this direction to determine the extent to which these agreements have a positive or negative effect on economic activities in countries where these agreements have been preferred to the multilateral trading system (Lloyd, 2002). ).Developments in these agreements have accelerated in the recent past and an average WTO member has agreements with more than 15 countries (Schaefer, 2007). The main purpose of proliferation is to make business relationships more coherent and enriching. Trade liberalizations may have accelerated economic activities; this has a negative effect on the multilateral trading system. The trend towards regionalism may hamper the very objective of the multilateral trading system in the long term. The whole idea behind the introduction of such a system was to facilitate the d...... middle of paper ...... L. (2005), Eager to ink, but ready to act? Proliferation of RTAs and international cooperation in competition policy. Competition provisions in regional trade agreements: how to ensure development gains, 1.10. Oduor, M. (2005), Resolving trade disputes in Africa: choosing between multilateralism and regionalism: the case of COMESA and the WTO. Tul. J. Int'l & Comp. L., 13, 177.11. Lee, YS (2011), Reconciling RTAs with the WTO multilateral trading system: the case for a new sunset requirement on RTAs and development facilitation. Journal of World Trade, 45(3), 629-651.12. Leal-Arcas, R. (2010), Proliferation of regional trade agreements: complementing or supplanting multilateralism. Chi. J. Int'l L., 11, 597.13. Sampson, GP and Woolcock, S. (eds.). (2003), Regionalism, multilateralism and economic integration: recent experience. United Nations University Press.