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International Trade Policy Research Paper

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Trade Policy
Trade policy which is also known as commercial policy is a set of rules and regulations for the purpose of regulating international trade specially to restrict imports. Every country has its own trade policy formulated by its governmental officials according to the economic conditions of the country. The main purpose is of commercial policy for a country is to boost the trade with other countries and to help the smooth running of international trade.
The trade policy can include a number of different and complex actions for example elimination or imposition of quantitative restrictions or increase or decrease in tariffs on the imported products. There can be unilateral, bilateral and multilateral liberalization depending on the …show more content…

The clear impact of trade barriers is to keep occupations from being lost to foreign competition, which is a contention utilized by numerous particular vested parties to legitimize different sorts of trade barriers. Over the long haul, nonetheless, trade barriers power customers to pay higher costs, since items that could generally be made affordably abroad take more assets to deliver locally.
Expanded Costs to Domestic Suppliers: Price climbs because of trade barriers don 't simply influence purchasers. It additionally puts a strain on firms which supply raw products and wares to domestic industries. Without trade barriers set up, such firms can depend on the law of comparative advantage, implying that it would cost them more to attempt to discover a certain raw material in their own particular nation than it would to purchase from a nation rich in a specific commodity. Trade barriers misleadingly raise costs on foreign products, making it less gainful to purchase from different …show more content…

It decreases the competitiveness of the domestic industries and they become less efficient. It also affects consumer welfare by decreasing the choice of products available to them. Ministry of commerce has adapted following guidelines to encourage a competitive environment for local industries.
• Development and promotion of competitive markets in Pakistan
• Ensure compliance to international laws, practices and standards
• Promote foreign direct investment to increase the capital inflow
• Take into account the changing needs of economy of Pakistan
• Create an environment that can support the process of industrialization in the country

Setting up of export-import

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