Liberalization of foreign trade and its effects on the economies of developing countries in general and Iraq in particular.

Abstract

Liberalization of foreign trade has become an urgent necessity at present for both the developed and the developing countries. The developed country has managed to discharge its surplus products to the markets of developing countries, and developing countries have also managed, through the liberalization of their foreign trade, Machinery and equipment and semi-finished products, as well as hard currency obtained from the export of various raw materials. Liberalization of foreign trade has contributed to the economic development of countries, but the liberalization of foreign trade for developing countries has been fraught with difficulties and problems, as most developing countries' products are still unable to compete with the products of advanced industrial countries, This has contributed to the decline in domestic production (agricultural and industrial) for many developing countries. Therefore, developing countries should not rush to abolish customs duties and remove customs barriers on imported foreign goods and products that compete with similar domestic products. N local products to these countries will be able to compete with foreign products on the market, and was the liberalization of foreign trade and other positive effects negative for developing countries in general and Iraq in particular.