Trade liberalization refers to the process of reducing or removing barriers and restrictions on the international exchange of goods and services between countries. It involves policies and agreements that aim to promote and facilitate more open and free trade, such as reducing tariffs (taxes on imported goods), eliminating quotas (limits on the quantity of goods that can be imported or exported), and minimizing regulatory barriers. The goal of
trade liberalization is to boost economic growth, enhance competition, and provide consumers with a wider range of choices at lower prices.
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