what is liberalization of foreign trade? For 3 marks.
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Explanation:
Trade liberalization is the removal or reduction of restrictions or barriers on the free exchange of goods between nations. These barriers include tariffs, such as duties and surcharges, and nontariff barriers, such as licensing rules and quotas.
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Removal of barriers or restrictions set by the government is known as liberalisation.
Explanation:
- Liberalization in trade means to reduce the restriction or removal of barriers to enhance the free exchange of goods between nations.
- Both import as well as export the lieralization are carried out by government to increase the trade.
- Compare to previous term the government imposes less restriction on trade, it means more liberal.
- Government not interfere in production.
- Freedom of opening or starting production units.
- Free flow of foreign investment.
- To increase the competition between countries and enhance the trade and increased the economic condition of the government.
To Learn more...
1.What do you understand by liberalisation of foreign trade
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2.How has liberalisation of trade and investment policies helped the globalisation process?
https://brainly.in/question/1022939
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