1) International trade 
Trade that occurs between members of a preferential trading arrangement that replaces what would have been production in the importing country were it not for the PTA. Associated with welfare improvement for the importing country since it reduces the cost of the imported good. Concept due to Viner (1950).
The increased trade that occurs between member countries of trading blocs usually resulting from economies of scale following the enlargement of the market.
The increased trade that occurs between member countries of trading blocs usually resulting from economies of scale following the enlargement of the market