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What is the meaning of foreign trade policy?

Foreign Trade Policy is a set of guidelines and instructions established by the DGFT in matters related to the import and export of goods in India. The Government of India, Ministry of Commerce and Industry announces Export Import Policy every five years. The new FTP (2015-20) came into force w.e.f 01/04/2015.

Which policies are common trade policies?

Trade policy. includes any policy that directly affects the flow of goods and services between countries, including import tariffs, import quotas, voluntary export restraints, export taxes, export subsidies, and so on. Chapter 8: Domestic Policies and International Trade GitHub Pages s11-domestic-policies- GitHub Pages s11-domestic-policies-

What is the simplest trade policy?

Tariffs are the simplest and oldest form of trade policy instrument. Traditionally, they were used as a source of government revenue but they are mostly used today to protect particular home sectors from international competition by artificially increasing the domestic price of the imported good. Instruments of Protection and their Economic Impact fao.org fao.org

What is an example of a foreign trade?

Almost every kind of product can be found in the international market, for example: food, clothes, spare parts, oil, jewellery, wine, stocks, currencies, and water. Services are also traded, such as in tourism, banking, consulting, and transportation.

What is an example of a trade policy?

National Trade Policies The United States, for example, imposes import quotas on sugar, because of a fear that such imports would drive down the price of sugar and thus injure domestic sugar producers. Why is sugar favored, while other products are not? Sometimes a product is protected because of historical practice.

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