Liberal Trade Policy

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Liberal Trade Policy

The policy in which a country reduces its tariffs and other trade barriers, often in conjunction with other countries. Liberal trade policies are intended to encourage international trade, which fuels economic growth. However, some economists and others believe liberal trade policies can be harmful because they are detrimental to domestic industries unable to compete with their foreign counterparts.
References in periodicals archive ?
He said that Sri Lanka offer huge opportunities in gems and jewellery, rubber, garments, hospitality, services and there was a need to take advantage by liberal trade policies of the Sri Lankan government.
Over the last 20 years DED has complemented economic development in Dubai through diverse activities, chiefly, facilitating business creation, protecting the rights of businesses and consumers, fostering retail trade, promoting and assisting SMEs, attracting foreign direct investment, helping exporters to leverage the liberal trade policies in Dubai, and contributing to the strategic planning of an increasingly diversified economy," Al Qamzi said.
The governments of GCC countries are planning to raise their domestic production via investments in the pharmaceutical industry and adaptation to liberal trade policies and international healthcare standards.
COLOMBO, November 29, 2010 (Frontier Star): President Asif Ali Zardari Monday offered assistance to Sri Lanka in cement, sugar and dairy industry and urged Pakistani and Sri Lankan businesses to benefit from liberal trade policies of either country, through joint ventures and investment.
Bahrain's attractiveness stems from an open policy to foreign investment, liberal trade policies and a light tax system.
A World Bank survey of developing countries in 2004 found that the 24 nations with liberal trade policies had higher growth rates, higher incomes, longer life expectancy and better schooling than comparatively closed nations.
Politicians--first cousins of today's TV news personalities--sense a general, if ephemeral, disapproval of liberal trade policies.
Therefore, it is concluded that liberal trade policies are recommendable, but must be complemented by sound macroeconomic management, micro-policy to strengthen domestic competition, and institutional improvements.
Trade flourished in the 1990s as a consequently of liberal trade policies and global economic expansion.
But Hayes is also known to be mercurial and for the passionate battle he led in support of the North American Free Trade Agreement and other liberal trade policies -- a stance that put him squarely at odds with the ATMI's conservative majority, led by textile titan Roger Milliken.
But he is still not willing to concede that the decline of this type of indigenous trading activity since the 1870s, just as his famous case of the Chayanta grain trade, owed less to liberal trade policies than to changing transport infrastructure and costs.
On the contrary, we believe that liberal trade policies - providing that they are fair to Americans - can give the United States more rather than less leverage to promote the cause of freedom around the globe.