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International Trade Importance

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IMPORTANCE OF INTERNATIONAL TRADE
AIMI MAHFUZAN BINTI TAMRIN
NURUL FITRAH BINTI JAAFAR
BACHELOR OF URBAN AND REGIONAL PLANNING
KULLIYYAH OF ARCHITECTURE AND ENVIRONMENTAL DESIGN,
INTERNATIONAL ISLAMIC UNIVERSITY MALAYSIA

Abstract The role of international trade in the world is very essential in order to achieve growth, economic development and has been widely implemented by developed countries. Basically, this paper highlight the importance of international trade towards country and community or individual. International trade can be defined as the interchange of commodities, services and capital across international borders or territories, which could encompass the natural actions of the government and individual. Trade represents a significant percentage of gross domestic product (GDP) in most countries. Different countries of the world specialize in producing different goods are referred to the international specialty. Trade policy formulation and implementation covering issues such as taxes, subsidies, customs and administration. In conclusion, it can be stated that, economic growth contributed by international trade, which provided by the policy measures and economic infrastructure are enough to cope with the changes in social and financial scenario that result from it.
KEY WORDS: International Trade, Economic Development, Economic Growth.
Introduction
There is a mutual interdependence of the various national economies in the current world. All countries should

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