Import and Export

Import the things more the country really need For its economic development Such as food, raw materials for various industries Technology, electric power and so on. Export the things that are surplus and competitive And whose demand is in the foreign countries. With a view to boost export The government should minimize export duty And encourage the exporters By reducing tariff on import of associated raw materials. The government must discourage import of nonessential items By imposing higher import duty And encourage production of luxury items in the country. In the modern world international trade can play a vital role In the economic development of any country That’s why the governments must emphasize on it evermore.