Multilateralism and regionalism in international trade law

International trade has been tested by a growing number of economic, political, ideological, institutional and legal challenges. On the one hand, the future of the global trading system depends largely upon the development of all these ‘external’, uncertain and unpredictable risks and opportunities of various natures. On the other hand, international trade and the functioning of the global trading system is one of the major factors that have a significant impact upon the shaping of the present and future world order