Liberalization of Trade

Essay by superluli May 2004

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Project Outline:

1) Importance of the topic

2) Meaning of Liberalization of Trade

3) Examples of Liberalization of Trade

a. North American Free Trade Agreement

b. European Union

c. General Agreement on Tariffs and Trade

4) Advantages and Disadvantages of Liberalization of Trade

5) What lead to Liberalization of trade

6) Impact on LDCs

7) Examples for the impact of LDCs

a. Syria

b. Tunisia

c. Ethiopia

d. Egypt

8) References

1) Importance of the topic

This paper is about Liberalization of trade and its impact on LDCs.

First of all Liberalization of trade is important nowadays since it represents the global direction of trade. As International Trade reaches its peak, Liberalization of trade seems like the most natural thing to do. A reduction of trade restrictions and the emergence of trade blocks and other forms of economic integration makes Liberalization of trade a very important topic, if not the most important one to discuss.

Liberalization of trade has been increasing day by day and is quite apparent now with all the forms of economic integration.

This leads us to our second point which is the impact of Liberalization of trade on Less Developed Countries.

Less developed Countries are affected by this trend due to its tight relation with Economic Development.

Trade is an engine of Growth, and has numerous contributions to the development of a country.

Haberler has pointed out some very important benefits that international trade can have on Economic Development, which will be discussed later on.

Critics on international trade also have a list of harmful effects of trade on Economic development which we will also see later on.

Since Liberalization of trade has an impact on International Trade it, in return, also has an impact on LDCs.

In the rest of the paper we...