Question

what do you understand by liberalisation of foreign trade

Answer 1

Trade liberalization is the removal or reduction of restrictions or barriers on the free exchange of goods between nations. This includes the removal or reduction of tariff obstacles, such as duties and surcharges, and nontariff obstacles, such as licensing rules, quotas and other requirements.

Answer 2

The answer is as follows:

Explanation:

• Liberalization is the process of removing government-imposed barriers or prohibitions.

• Businesses now have more freedom to choose what they want to import or export because to trade liberalization.

• The government is thought to be more liberal because it puts fewer limitations than before.

• The easing of government controls is known as liberalization.
• Liberalization is most typically used as an economic phrase, while it is sometimes coupled with the loosening of legislation dealing to social issues such as abortion and divorce.
• It refers to the loosening of barriers on international trade and money.