Our findings reveal that all 3 FTAs lead to trade expansion, both within members and with non-members. However, such expansion is biased favorably towards intra-FTA trade. Of the three FTAs studied, NAFTA is the most expansionary in terms of trade creation for intra- and extra-FTA trade, followed by EU-15. EU- 27 and AFTA are close in their trade expansion capability for both intra- and extra-FTA trade. As each FTA is unique on its own in terms of other factors such as location, institution thickness and pre-FTA linkages not factored in the model used, the study could not conclude unambiguously which type of FTA is the most effective in the creation of trade.