what do you understand by liberlisation of foreign trade ? mention the role of wto in it .
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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. The easing or eradication of these restrictions is often referred to as promoting "free trade."
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. The easing or eradication of these restrictions is often referred to as promoting "free trade."
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