export promotion

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1 Government activities to help sell exports by providing export incentives at home, and various forms of practical assistance for exporters abroad. These include advice on local trading laws and practices, the provision of export credits or guarantees on favourable terms, and diplomatic pressure, including tying aid to export sales.

2 A strategy for promoting economic development in less developed countries. This involves running an open economy, relying on foreign markets to allow export-led growth. This strategy has been successfully used by many countries, including the newly industrialized countries of East Asia. It is contrasted with the strategy of import replacement, where countries started to industrialize by protecting local industries against imports.

Subjects: Economics.

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