The rapid increase in the number of bilateral and regional free-trade agreements since 1995 is a striking development. The proliferation of these agreements has raised questions about whether they have, in fact, opened markets, created trade, promoted economic growth, and/or distorted trade....

The Brazilian agricultural sector has been transformed from a traditional system of production with low use of modern technologies to a world agricultural leader. That transformation occurred as the country moved away from import-substitution policies—which nurtured domestic industrial...