ZIMSEC O Level Geography Notes: Trade:Ways in which developing countries can improve trade
Trade in developing countries such as Zimbabwe can be enhanced by:
- Diversification of their economies, that is, by producing a variety of new value added manufactured goods.
- Investing in human resources so as to produce highly skilled manpower for the new industries.
- Adopting modern technology and machinery inorder to reduce production costs.
- Improving packaging of goods to international standards.
- Upgrading and extending transport networks.
- Increasing funding for industrial development.
- Improving basic infrastructure such as water, fuel and power supplies.
- Use of tarrifs to discourage the importation of finished goods into the country and thus protect infant industries from external competition.
- Offering subsidies to stimulate exports.
- Joining regional trading blocs and signing agreements and treaties on trade.
- Invest in technology to process raw materials into finished goods
To access more topics go to the O Level Geography Notes page