An Overview Of International Trade And Economic Development
All of us are aware with the concept of International trade as it is not a new among different countries across the world. Ar Afilalo is an expert who threw a flood of right on the role of international trade in economic development. The research and training of Afilalo are based on the following methods such as:
- International trade or business
- Different International business transactions
- European Union laws
If you review the past, then you will notice a number of instances of international trade. As talking about the 14th and the 15th century, there were a number of traders who were involved in transporting silk as well as spices. From China to various European countries, the fast sailing ships transported tea in the 1700s. In this way, we can assert that the foreign trade has a huge impact on the economical development of a country.
Different Faces To Judge The Role of foreign trade
- Foreign trade and economic development
There is no denying the fact that all the countries are involved in exporting a lot of agricultural product to other countries and import capital goods as well. Thus, they do business on an international level to get a big profit. In this way, the economic development of a country highly depends on foreign trade.
- Foreign exchange earning
In order to remove poverty, including the various productive benefits, Foreign trade offers foreign exchange.
- Market expansion
The increasing production of a country gives credit to International trade. One of the remarkable factor in expanding the market is the foreign trade, motivating the producers as well. Different countries with less home market focus on selling their products in other countries.
- To maximize the investment
The major role played by Foreign trade is to encourage the businessmen for maximizing the investment to produce more goods. Thus, the rate of investment increases.
A proud member of the Sephardic Jewish community, Afilalo is a celebrated author of the book the new global trading order as well.