Free Trade Contributes to the Development of a Nation: Discuss This in the Malaysian Context

Posted: 2 Dec 2012

Date Written: December 2, 2012

Abstract

What is free trade? From a layman’s perspective free trade is the reduction of barriers in the international trade of various goods and services. Encyclopedia Britannica defined ‘free trade’ also known laissez-faire, a policy by which a government does not discriminate against imports or interfere with exports by applying tariffs or subsidies. A free-trade policy does not imply, yet some countries ditch all control and taxation of imports and exports. Free trade agreements which are consist of economic cooperation agreements, regional and sub-regional trade agreements are agreements among governments between Presidents and Trade Ministers. How far this concept is applied depends on the jurisdictions and agreements between countries.

Keywords: free trade, economic development

Suggested Citation

Hamdan, Nur, Free Trade Contributes to the Development of a Nation: Discuss This in the Malaysian Context (December 2, 2012). Available at SSRN: https://ssrn.com/abstract=2183888 or http://dx.doi.org/10.2139/ssrn.2183888

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