As of October 2021, the World Trade Organization (WTO) reported that there are about 350 Regional Trade Agreements (RTAs) that are in force. This includes free trade agreements between two nations as well as agreements signed by more than two countries. An RTA is fundamentally about promoting trade. Defined as a treaty between two or more governments that define the rules of trade for all signatories, RTAs have not only increased in number but also in depth and complexity. In fact, in January 2022, RCEP, initiated by ASEAN, came into effect, bringing 15 countries together in an agreement that plans to eliminate about 90% of tariffs on imports between the signatory nations in the next 20 years. Malaysia too has signed about 35 bilateral and regional trade agreements. However, not all countries subscribe to RTAs. Switzerland for example has rejected joining the EU numerous times. On Friday, January 31, 2020, the UK completed Brexit whereby she withdrew from EU after 47 years. This group assignment will focus on the RTAs, their impact on nations, and whether they are still needed in todays world.

Question: Should the RTA be maintained or should it be disbanded? Justify your answers.