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International Trade is regarded as an engine of growth. It paves the ways for the flow of goods and services. The free flow of goods and services along with the capital and labour opens the new vistas of growth and development. Multilateralism and regionalism are the twin routes of international trade through which various countries of the world try to maximize the advantages of international trade and thereby enhance the growth of their economy.

There was a consensus among the key players of the world economy for the creation of International Bank for reconstruction and development IBRD, International Monetary Fund IMF and International Trade Organization ITO. Out of these three IBRD and IMF established in mid of 1960 but ITO could not be formed because some of the developed countries were not agreed upon to liberalize their protectionist policies. However GATT a loose organization was established in 1948 and that paved the way for multilateralism. Finally the establishment of WTO in 1995 created a solid ground upon which the multilateralism grow with leaps and bounces. The book is expected to encourage discussions and research on the matter and will be useful for the students researchers and the academia.