THE ESSENCE AND IMPORTANCE OF FOREIGN TRADE POLICY IN MODERN ECONOMIC DEVELOPMENT
DOI:
https://doi.org/10.5281/zenodo.18662245Keywords:
Foreign trade policy; international trade; economic development; trade liberalization; protectionism; globalization; competitiveness; trade balance; economic growth.Abstract
Foreign trade policy plays a crucial role in shaping the economic development of countries in an increasingly
interconnected global economy. This article examines the essence of foreign trade policy, its theoretical foundations,
and its practical importance in promoting economic growth, structural transformation, and international competitiveness.
The study analyzes the main instruments of foreign trade policy, including tariffs, non-tariff barriers, export promotion
measures, and trade agreements, and evaluates their impact on national economies. Particular attention is paid to
the role of foreign trade policy in ensuring macroeconomic stability, protecting domestic industries, attracting foreign
investment, and integrating countries into global value chains. The findings highlight that a well-designed and balanced
foreign trade policy contributes to sustainable economic development, enhances productivity, and supports long-term
national economic interests in the context of globalization.
References
Asian Development Bank (2024). Uzbekistan Country Report: Economic Outlook and Structural Transformation.
Manila: ADB.
Hausmann, R. & Hidalgo, C. (2021). Economic Complexity and Export Diversification in Emerging Economies. Harvard
CID Working Paper No. 626.
International Monetary Fund (2024). Republic of Uzbekistan: Article IV Consultation Report. Washington, DC: IMF.
Ministry of Investment, Industry and Trade of Uzbekistan (2024). Annual Export Performance Report. Tashkent.
OECD (2023). Trade Facilitation and Digitalisation in Developing Countries. Paris: OECD Publishing.
State Committee of the Republic of Uzbekistan on Statistics (2017–2025). Foreign Trade Statistics: Monthly and
Annual Bulletins. Tashkent: UzStat.
Normuradovich, Rahimov Eshmurad. “WAYS TO INCREASE THE COMPETITIVENESS OF NATIONAL PRODUCTION
IN THE PROCESS OF FOREIGN TRADE LIBERALIZATION.” Journal of Contemporary Business Law & Technology:
Cyber Law, Blockchain, and Legal Innovations 1 (2024): 17-24.
World Bank (2024). Uzbekistan Systematic Country Diagnostic Update: Pathways to Export Competitiveness.
Washington, DC: World Bank Group.
World Trade Organization (2023). World Trade Statistical Review 2023. Geneva: WTO.
Avazkhodjaev, Salokhiddin, et al. “Trade War Shocks and Volatility Spillovers between Fossil Fuel Markets and Biofuel
Feedstocks: Empirical Evidence from the US–China Trade Dispute.” International Journal of Energy Economics and
Policy 16.1 (2026): 719.
