So, trade is the most important pilar for growth of any economy. When more brands come in the market competitions increase that gives more options and quality to the consumers at a low price and remove monopoly.Example; In India there are a lot mobiles brands has came that is providing more options and quality to the custumers. What is the importance of foreign trade for economic development of country is stated below: Firstly, foreign trade helps to produce those commodities which have a comparative cheaper cost than others. Small-scale retailers include hawkers, pedlars, general shops, etc.. One was the convening in 1964 of the United Nations Conference on Trade and Development (UNCTAD) and its establishment as a permanent organ of the UN system. The developing economies have to depends on the developed economies because developed economies provide funds,technologies machines etc. Foreign trade is responsible for creating economic depending and establishing economic interest in the economy of the countries having trade relations. PreserveArticles.com: Preserving Your Articles for Eternity. The export of goods makes our farmer more prosperous. which creates crisis in economy. This promotes international understanding and peace among the people.if war starts it can be remove by people love and understanding. Foreign trade increases the scale of production and national income of the country. This increases the efficiency and benefits to the consumers all over the world. Trade helps to country to increase their productivity because trade brings high productivity machine and best technology to the host country. Role # 3. 2. Had there been no foreign trade, then it would not have been only difficult but also too expensive. There by stopping fluctuation in prices. When the trade started it does not only use home country but also export to other countries. What are the Advantages of Foreign Trade? Trade Provide growth to the economy because when trade started in any country it brings new opportunities to people. Economic development helps in the creation of better quality of products and services at cheaper prices. Without foreign trade, it is not possible to fulfill the demand for petroleum products and it will retard the economic development of our country. Trade is the fundamental state of business activity it includes sale and purchase of the goods or services.it involves the exchange or transfer of goods or services. For example, a trader from India sells his goods to a trader located in Dubai.

Pittsfield Rmv Appointment, 2008 Nissan Altima Reset Oil Light, Microsoft Remote Desktop Password, First Horizon Bank Routing Number, Sanus Simplicity Slt3-b1, Dewalt Miter Saw 10 Inch Manual, Flt Academy Reviews,