Foreign Trade Policy Research Articles

Constitutional Law-making by International Law: The Indigenization of Free Trade Agreements

Abstract New Zealand’s free trade agreements (FTAs) with the European Union and the United Kingdom break new ground by elevating Indigenous customary protocols to a vector in the regulation of international trade. While in the past the focus has been on securing policy space to protect Indigenous rights, this has shifted: Māori, the Indigenous people of Aotearoa New Zealand, have entered the trade arena, and with them their protocols and customs, as a means of enshrining participation rights for Māori, as a touchstone for international cooperation, as a benchmark for reviewing FTAs and as a method of addressing problems ranging from environmental degradation to unsustainable fisheries. Māori are not just another stakeholder; they have a seat at the table, and this article will canvass to what extent. Other countries with an Indigenous population will develop their own paths to better integrate Indigenous peoples in their foreign trade policies. New Zealand presents one notable example.

POLICY OF FOREIGN ECONOMIC COOPERATION OF THE GOVERNMENT OF THE REPUBLIC OF KOREA WITH ASEAN

The Republic of Korea has achieved economic growth and development thanks to the benefits of trade liberalization within the framework of a multilateral trading system. However, it faced a new international trading environment with the emergence of neoprotectionism. Initially, neoprotectionism was promoted by developed countries, but now it is becoming a common phenomenon in the international trading environment. In particular, the political and economic conflicts between the United States and China are forcing a radical change in the foreign trade policy of the Republic of Korea. The prolonged confrontation between the two largest markets for the South Korean economy has reinforced the need to review the foreign economic policy of the Government of the Republic of Korea. In response to changes in the international trading environment, the Government of the Republic of Korea was forced to develop and promote new directions of foreign economic policy for the development of the multilateral trading system.

Foreign Trade (Development and Regulation) Act, 1992

Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 confers significant authority upon the Central Government of India to craft and modify the Foreign Trade Policy (FTP), a critical instrument in regulating international trade activities. This provision grants the government the flexibility to adapt trade policies to evolving economic landscapes and global market dynamics. Through notifications in the official gazette, the government announces the FTP and any subsequent amendments, ensuring transparency and accessibility to stakeholders. This abstract provides a concise overview of Section 5, highlighting its role in shaping India's trade strategies, facilitating exports, and attracting investments. The provision's flexibility enables the government to pursue strategic objectives, fostering economic growth and integration into the global economy.

Китай и страны Латинской Америки: проблемы и перспективы сотрудничества в XXI веке

The aim of this study is to identify the problems and determine the prospects for China’s cooperation with Latin American countries in the 21st century. The relevance of the topic is caused by the increasing interaction be-tween China and the region, which has a direct impact on the international geopolitical environment. In the course of the research general scientific methods such as analysis and synthesis, comparisons and groupings, as well as generalisation of the results obtained were used. The paper analysed the development of trade in-teraction between the countries, investment cooperation and the peculiarities of China’s projects in the region. The specificity of the global position of Latin America in the conditions of division of influence between the USA and China is reflected. As a result of the conducted study, the strengthening of China’s position in the region was identified, and contradictions in China’s foreign trade policy towards Latin American countries were re-vealed.

ТОРГОВО-ЭКОНОМИЧЕСКИЕ ОТНОШЕНИЯ РОССИИ И ЕГИПТА

The article analyzes the dynamics and structure of trade between the Russian Federation and the Arab Republic of Egypt. The authors note the positive dynamics of trade turnover between the two countries over a period of more than twenty years, highlighting trends and stages in the development of mutual trade in 2002-2023. Such a long period of time allows us to draw reasonable conclusions. The novelty of the author's approach lies in the fact that in addition to the absolute indicators of Russian-Egyptian trade relations, the article considers relative indicators, such as the share of mutual trade in the foreign trade turnover of the Russian Federation and Egypt, as well as the comparative dynamics of Russian exports to Egypt, imports from Egypt and GDP of our country. The authors show that if the absolute indicators of trade turnover between the two countries are characterized by positive dynamics, then when considering the relative indicators of trade between the two countries, such a trend is not so clearly manifested. Particular attention is paid to the analysis of the dynamics of the structure of Russian exports to Egypt and imports from Egypt.
 As a result of the study, the authors conclude that there are quite big problems in the development of Russian-Egyptian trade cooperation. These include the unidirectional nature of these relations and the low level of investment cooperation. In addition, Russian exports prevail in mutual trade, and grain supplies have a significant share in it. The weak diversification of the structure of Russian-Egyptian trade hinders the development of mutual trade between the Russian Federation and Egypt. It is also necessary to take into account the fact that the Arab Republic of Egypt pursues a multi-vector foreign trade policy, in which Russia is far from being the highest priority.

Evaluation of Comparative Advantages of Trade in Service in Türkiye with RCA and TBI Indices

Technological developments in the last quarter century and the increase in the service sector in international trade enable schools to develop their foreign trade policies for service trade. To achieve a competitive advantage in this extended family service trade, it is necessary to determine the countries' comparative advantages. To choose the comparative advantage of Turkiye's service sector in this country between 2013-2021, the TBI index, which was used by RCA and supported the index results, was also included in the study. The data obtained from the survey show that Turkiye has a comparative advantage in maintenance and repair, transportation, travel, insurance and pension, and government goods and services in the relevant period. However, it is not generally observed during the elapsed time in government goods and services and insurance and pension services. On the other hand, while Turkiye has a net exporter position in manufacturing services on physical inputs owned by others, transportation, travel, and construction services, it is also a net exporter in insurance and pension, financial services, charges for the use of intellectual property, telecommunications, computer, and information processing and government goods and services during the relevant period—Importer position. However, some services remain net importers or exporters throughout the period. These results are more sensitive than macro and micro environmental conditions.
 Key Words: Trade in Services, Comparative Advanteges, RCA Index, TBI Index, Türkiye
 JEL Classification: F14

Проблема «Зангезурского коридора» в современной политике Ирана и России на Южном Кавказе

For many decades, the conflict between Armenia and Azerbaijan was one of the most important processes in Transcaucasia. He had the most direct influence on both the geopolitical and trade and economic situation in the region. In addition, the protracted nature of the confrontation and the inability of Yerevan and Baku to find common ground have become the main obstacle to the development of regional logistics. Therefore, the events that have unfolded in Nagorno-Karabakh since 2020 and the subsequent reconciliation between the conflicting parties have raised the hope among many that all problems will soon become a thing of the past. At the same time, it has recently become obvious that a number of regional players have decided to take advantage of the current situation. In this case, we are talking about Iran, which is making every effort to increase its regional status, including through new trade, economic and logistics projects. One of them could be the so-called “Araks Corridor” or “Iranian Path”, which should finally bury the idea of building the long-suffering “Zangezur Corridor”. And this is especially important at the present stage for Iran’s foreign trade and economic policy, when, on the one hand, there is a process of relative stabilization in the Armenian-Azerbaijani conflict, and, on the other, Iranian-Russian relations in the region are developing. The purpose of this article is to study the modern policies of Iran and Russia in the South Caucasus, in particular their position regarding the problem of the “Zangezur Corridor” in the context of a slight weakening of the confrontation between Armenia and Azerbaijan.

Impacts of anti-dumping duties on firm’s performance: Evidence from listed firms in seafood industry in Vietnam

The study aims to examine the impact of the anti-dumping tax imposed by the United States under the simultaneous influence of financial factors on the performance of enterprises in the seafood export industry. The author selected data including 21 companies listed on the Vietnamese stock market in the period 2017 - 2022, and used GMM estimation technique to retest the influence of familiar factors such as lag of the firm’s performance, size, leverage, liquidity ratio, sales growth rate to the firm’s performance (measured by ROA), in addition, the paper also provides additional evidence on the impact of new factors: anti-dumping tax and export sales ratio. Research results show that (1) 6 out of 7 independent variables including , Size, Liq, g, ADr, Exp.re / Tot.re are statistically significant, (2) anti-dumping tax rate and geographic revenue structure are both recorded negative impacts on performance. The results of this study contribute academically by providing a new insight into the relationship between revenue and profit in the case of exporting to countries that apply anti-dumping tax and contribute practically by proposing some implications for foreign trade policy and corporate financial management strategy.

The synergy effect of energy security and carbon-haze collaborative management: From the perspective of biased technological progress

It is important to ensure energy security and achieve carbon-haze collaborative management for sustainable development. Reducing imported energy dependence is necessary to maintain energy security, while its impact on environmental quality remains unclear. From the perspective of biased technological progress, this paper estimates the level of biased technological progress towards self-sufficient energy by a heterogeneous stochastic frontier analysis (SFA) function, and then empirically examines whether self-sufficient energy biased technological progress has a dampening effect on haze pollution and carbon emissions. It is found that: (1) Self-sufficient energy biased technological progress can effectively reduce haze pollution and carbon emissions, achieving a synergistic effect between energy security and carbon-haze collaborative management. (2) “Efficiency enhancement” and “quality improvement” are the essential mechanisms for the synergistic effect. (3) Environmental regulation, abundant resource and technology endowments can enhance the haze reduction effect. And the lower dependence on foreign trade and stable global economic policy environment are more conducive to achieving carbon-haze collaborative control. (4) In the Eastern and Western regions, self-sufficient energy biased technology can be sped up to alleviate haze pollution. The findings can enrich the research exploring pollution control from the perspective of biased technological progress, and provide policy recommendations for promoting high-quality development.

India’s trade related policies during Atal Bihari Vajpayee government

The open policy of a large country influences the global economy and trade. In this context, India's foreign policy attracts countries to boost their trade relations. India's economy is now the fifth largest in the world, accounting for almost 3% of the global GDP. Many government leaders are responsible for strengthening the Indian economy at the global level. In this regard, Atal Bihari Vajpayee, as Prime Minister of India, has majorly boosted India's economic engagement with the international community through various policies and initiatives. This study aims to emphasise Atal Bihari Vajpayee's contributions to foreign trade and policy. In this paper, we have focused on the major contribution of the Vajpayee government to global community and countries' foreign trade relations and policy. This paper relies on secondary data sources. In the methods, we have used descriptive statistics, trend lines, and tables which are based on time series data. This study asserts that Atal Bihari Vajpayee's time as Prime Minister had a substantial impact on the development of India's international trade strategies, emphasizing liberalization, infrastructure development, bilateral relations, and export promotion in order to enhance India's integration into the global economy.

FOOD AVAILABILITY AND STATE SUPPORT FOR FOOD SECURITY DURING WAR

FOOD AVAILABILITY AND STATE SUPPORT FOR FOOD SECURITY DURING WAR

Wartime Trade Policy Measures in Comparison of the Historical Periods of the First World War and the Special Military Operation

With the beginning of the special military operation (SMO), a new type of foreign trade policy is forming, based on restrictions. History shows that the practice of restrictions on trade operations is not new. The article compares Russia’s trade policy measures introduced during the First World War of 2014–2018 and the SMO, which began in 2022. The goal is to identify tools that are not currently used. Restrictions on exports and imports, measures to stimulate imports, and measures to build new trade routes are considered. Even before the start of the SMO, from the moment of political aggravation, Russia limited the export of wood and fertilizers, which contradicted the Protocol on Accession to the WTO and the refusal of quantitative restrictions. Unfriendly countries that applied preventive sanctions against Russia, with the beginning of the SMO, denied Russia most favored nation treatment. As during the First World War, grains, flour and sugar were among the food products subject to government export restrictions. Both periods were characterized by measures to stimulate imports in an effort to provide industry with raw materials and equipment. Import restriction measures in the first period applied to luxury goods, in the second they took the form of sanctions against unfriendly countries. The war period was characterized by growing interest in the northern sea routes. Compared with World War I, modern export restriction policies were more varied in terms of product coverage, but lacked the specific details by export directions that were developed a century ago. Many of the modern measures allow exemptions only in relation to EAEU countries. In our opinion, exemptions from restrictions on the export of humanitarian goods could be made for the developing countries which are most in need of grain or fertilizers.

THE NEXUS BETWEEN TRADE INFRASTRUCTURE DEVELOPMENT AND EXPORT: THE CASE OF CENTRAL AND EASTERN EUROPEAN COUNTRIES

The focus of economic policymakers in Central and Eastern European countries (CEEC) is on developing and improving national infrastructure, including roads, railways and other forms of physical infrastructure needed for the realisation of economic activities, with the primary goal being to create a favourable business environment for foreign investments and export intensification. The article aims to examine whether the development of infrastructure in these countries has contributed to the increase in exports and to what extent, which would likewise examine the justification of infrastructure investments as a part of the economic strategy and foreign trade policy. The method of panel regression analysis with fixed effects was applied, which confirms the positive and statistically significant impact of infrastructure on export, justifying the initiative for the development of national infrastructure in the observed countries. Based on the obtained results, valid conclusions have been drawn regarding the theoretical and practical implications of the research, which point to the importance of physical infrastructure development as one of the leading determinants for export incentives.

Оценка добавленной стоимости во внешней торговле: современные подходы

The increase in globalization processes, which accelerated the fragmentation of production chains in the global economy, updated the task of clarifying the contribution of each of the element of the chain to the final result. With the consolidation of foreign economic cooperation, on the one hand, new opportunities have opened up for the inclusion in the international division of labor for more and more countries and companies, and on the other hand, risk threats of destroying or breaking relationships in these global value chains have intensified. This updated the task of specifying the real volumes of export-import turnover, cleared of double counted elements. In the early 2010s almost simultaneously there have been launched 3 basic concepts of export decomposition in the categories of value-added trade, prepared by UNCTAD, OECD and the EU. The system-functional analysis of the proposed approaches made it possible, at the same time, to reveal a number of keen questions that asked for clarification, in particular, the underestimation of intangible assets in creating value-added in exports within the framework of a specific global value chain, the measurement of value-added embedded in re-export (re-import) turnover of the country, etc. These aspects received due coverage in foreign and domestic economic literature. However, the latest developments by foreign specialists of the methodology of decomposing exports into the internal and external components of net production and double counted elements in the domestic scientific turnover are still being introduced with some delay. In this regard, the article set the task of conducting a comparative analysis of the main new results achieved, focusing on the methods introduced by A. Nagengast – R. Stehrer (2014) and A. Borin – M. Mancini (2019). At the same time, the main attention was concentrated on identifying breakthrough methodological "increments." It was revealed that new results are in demand not only in the context of macroeconomic analysis of transformational processes in the global economy, but also to an increasing extent to adjust foreign trade policy and develop ways to mitigate the risks of deterioration of bilateral foreign trade relations.

A Critical Assessment of the Nexus between Foreign Direct Investment and Economic Growth in the Nigerian Context

Foreign Direct Investment (FDI) is the interaction of the rest of the world with a domestic economy. These interactions influence economic growth, depending on a number of determinants, such as: foreign trade policy, corruption, security, form and system of government, exchange rate, monetary and fiscal policy, economic equipment, infrastructure and availability of human capital, etc. The amount of FDI a sector will attract will be empirically determined, and its importance to the country will go a long way in determining the country's focus on continued economic growth. This study examined the impact of FDI on Nigeria's economic growth. The study focused on two key variables, namely FDI inflow and Nigeria's economic growth. Economic growth, the independent variable, is represented by three substitutes; Gross domestic product, gross investment and labor productivity. The investigation period extended from 2010 to 2019. In this study, the correlative research design was chosen. Descriptive statistics, Pearson's correlation, and regression analysis with SPSS 23 were used to analyze the secondary data collected from the National Bureau of Statistics’ Reports. The study found out that FDI has a negative but insignificant association with Nigeria's economic growth. The study, therefore, made the following recommendations: the government should encourage economic growth through start-ups, entrepreneurship and innovation; Nigeria should invest and accumulate knowledge, human/physical capital and promote the adoption of technologies; finally, domestic savings should be mobilized by the government through tax cuts, job creation, and improving the financial system to increase capital formation.

India's New Foreign Trade Policy

India's New Foreign Trade Policy

Economics in the U.S. national security system

The National Security Strategy of October 2022 is based on integration into the national security of the U.S. economy, including foreign economic and trade policy, export control, control over the transfer of advanced technologies and the consolidation of friendly and allied U.S. countries in order to collectively use the entire arsenal of these tools in the interests of ensuring the national security of the United States and ensuring the preservation of its leading position in the modern world. .This approach includes such main components as domestic investment in the United States in the promotion of innovative technologies and state support for technologically advanced industries of the American economy, strengthening economic government, monitoring not only incoming, but also outgoing investments. The Strategy justifies the thesis about the destruction of the borders between U.S. domestic and foreign policy while upholding the interests of the country's national security, the need to give priority to the internal technological security of its economy, maintaining American technological advantages, and actively countering the growth of economic, diplomatic, China's military and technological power as the main and sole centre of power, actually able to get ahead of the United States in the total volume of advanced technologies already this decade, depriving the United States of the status of the leading economic force of the modern world. The essence of the approach to U.S. economic security reflected in the White House Strategy is the desire to surpass China as the most strategically significant threat to U.S. national security and the joint efforts of a coalition of friendly and allied U.S. states to contain the breakthrough technological development of China, reflected in the concept of "Made in China 2025."

Effects of trade and financial openness on inflationary pressure in Nigeria

The continuous rapid upsurge in inflationary pressure in Nigeria amidst the gradual liberalisation of the country’s trade and financial market calls for questioning of the role of trade and financial openness in the inflationary trend in Nigeria, which makes the research on this issue relevant. The purpose of this study was to determine the effects of trade and financial openness on inflation in Nigeria. In the estimation of the model built to capture the objective of the study, the fully modified ordinary least squares was employed based on the data collected from the World Development Indicators covering the period of 1981 to 2023. The results showed that trade openness and exchange rate exerted a significant negative effect on inflation in Nigeria while exchange rate showed a significant positive effect. The study concluded that financial openness had a positive significant effect on inflation while trade openness and exchange rate exerted a significant negative effect. The need for government to review their foreign trade policies in such a way that the importation of both finished and intermediate goods and services from the rest of the world can be significantly reduced by boosting local production was recommended. The study offers two-folds contributions. It provides new information on the factors that determine inflation and it specifically shows the nexus among trade and financial openness. The findings therefore revealed that higher trade and financial openness raises inflation implying openness-induced inflation. The findings from the study will be of practical value to policy makers such as those in the fiscal authorities and the Central Bank of Nigeria in devising policies to tame the current inflationary pressure in Nigeria

Chinese Foreign Trade Policy within GATT-WTO: Parallel or Shadow Institutionality?

The discussion of China's rise as a global economic and political power in recent decades has been fueling various theoretical discussions based on the evolution of its foreign trade policy. Hence, empirical research method is proposed in the field of international law involving the study of institutions, norms and procedures based on academic evidence. In this sense, this article analyzes the underlying reasons why this country, despite its late insertion into the Multilateral Trading System, has a relevant influence in the present. In fact, this influence from China has generated a scenario of regionalism both in the Asia-Pacific and with other strategic partners. All this, in addition to also evidencing a progressive "shadow institutionalism". Thus, this whole previous situation means that exist a real primacy achieved by China at world nowadays which also tends, in certain circumstances, to tarnish and even undermine the role of the GATT-WTO paradigm and its logic of multilateralism. Accordingly, this implies a particular scenario that suggest a whole parallel model of authority that affects the dynamics of international relations.

Analysis of Foreign Trade Policy in Abenomics

The outbreak of the international financial crisis in 2008 dealt a severe blow to Japans foreign trade environment. Under the severe form of Japans foreign trade, Shinzo Abe came to power and put forward Abenomics to provide strong policy support for Japans foreign economic development. This paper collects and arranges the foreign trade policy data of the Abe government during its two terms of office and analyses the impact of Abenomics on the Japanese economy. The study finds that, firstly, the Abe government focuses on the construction of an all-round regional economic partnership. During its term of office, it has signed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Japan-Europe Economic Partnership Agreement (EPA), and the Regional Comprehensive Economic Partnership (RCEP) and actively carries out trade diplomacy. Secondly, the Abe government attaches importance to foreign investment, actively investing in China, South Korea, and Southeast Asia, considering the economic and trade relations between Eastern and Western Europe. Thirdly, after Abe left office, the Kishida government continued the content of Abenomics. It proposed new capitalism with the times, and implementing this policy in Japans foreign trade has both the shadow of Abes economics and recent developments.