Preferential Trade Agreement International Factor Of Economic Growth

International business is one of the oldest businesses in the world. There has been always a need for different goods and services from different countries. Different nations and tribes have been specialized in the different goods and services since very ancient times. The world has a lot of experience of economic development since the industrial revolution of the late 18th and early 19th centuries. Each trend has been accompanied by an equally major expansion of international trade and marked by faster catch-up growth than the previous wave. The current and most extensive wave started after the 1980s and has seen some countries, including China, India, Turkey Brazil, and South Africa, opening up and board on the quickest process of industrial catch-up experienced to date.

The economic growth of any country is depended on:-Human resources and technology, Natural resources and capital goods International trade. Trends in PTA’s Developing countries rely hugely on PTA’s:223 Agreements associated with economies from Asia and Pacific in Post-Recession years. In 2008-2012 average 8.2 trade agreement per year Number regional proximity PTA’s bilateral deals are clearly preferred often with partners from the same subregion. Regional PTA’s also intent in opening markets beyond goods and services trade and making commitments in other areas of cooperation.

Keywords: Human resources, Technology, Natural resources, International trade

JEL Code: F44

Prof.Dr. Rashmi Gujrati Principal, KC Group of Institutions. Punjab, India

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