Question

What do you understand by liberalisation of foreign trade?

Answer 1

Removal of trade barriers on export and import

Answer 2

ᴛʀᴀᴅᴇ ʟɪʙᴇʀᴀʟɪᴢᴀᴛɪᴏɴ ɪs ᴛʜᴇ ʀᴇᴍᴏᴠᴀʟ ᴏʀ ʀᴇᴅᴜᴄᴛɪᴏɴ ᴏғ ʀᴇsᴛʀɪᴄᴛɪᴏɴs ᴏʀ ʙᴀʀʀɪᴇʀs ᴏɴ ᴛʜᴇ ғʀᴇᴇ ᴇxᴄʜᴀɴɢᴇ ᴏғ ɢᴏᴏᴅs ʙᴇᴛᴡᴇᴇɴ ɴᴀᴛɪᴏɴs. ᴛʜɪs ɪɴᴄʟᴜᴅᴇs ᴛʜᴇ ʀᴇᴍᴏᴠᴀʟ ᴏʀ ʀᴇᴅᴜᴄᴛɪᴏɴ ᴏғ ᴛᴀʀɪғғ ᴏʙsᴛᴀᴄʟᴇs, sᴜᴄʜ ᴀs ᴅᴜᴛɪᴇs ᴀɴᴅ sᴜʀᴄʜᴀʀɢᴇs, ᴀɴᴅ ɴᴏɴᴛᴀʀɪғғ ᴏʙsᴛᴀᴄʟᴇs, sᴜᴄʜ ᴀs ʟɪᴄᴇɴsɪɴɢ ʀᴜʟᴇs, ϙᴜᴏᴛᴀs ᴀɴᴅ ᴏᴛʜᴇʀ ʀᴇϙᴜɪʀᴇᴍᴇɴᴛs.