International Trade Liberalization

International trade liberalization is considered to be the background of rapid world economic development. Developing countries all over the world have faced growth of international trade; international liberalization resulted in limitations, reduction in trade opportunities and protectionism formation as the basic insurance means. International trade liberalization is the result of world economic integration leading to the establishment of a common trade system.

It is important to stress that trade liberalization has made textile and fashion industries face competition because of the growth of international suppliers’ number. Textile industry in the USA and all over the world faced benefits because of international demand growth observed in the sphere of fashion. The company Ghana Textile Print being considered a well known textile brand, experienced sales increase on the international market due to the company’s high quality and available prices. According to research data provided by expert David Ricardo, fashion trade protectionism and wide sales opportunities lead to the broadening of the international fashion market. As a result people can enjoy the conduction of various exhibitions and fashion weeks throughout the world with the participation of world fashion brands. The company GTP managed to increase its sales on 10% under the influence of international cooperation; then on 25% stabilizing its position in the sphere of textile promotion. (The Textile Industry in Ghana and Trade Liberalization, 2009)

Such Qatar companies as L’Uomo Men’s Wear and Givenchy Qatar have undergone structural changes under the influence and benefits of international trade liberalization; transformations within the companies are closely connected with renewed cooperations with such world brands as Canali, Hugo Boss and others. Fashion companies in Qatar opening a number of stores with fashionable clothes for men, women and children, have a chance to promote their style abroad by selling the brands of international firms in their own stores. This method gained success in many developing countries of the world raising the level of competitiveness and demand on the international level.

It is important to stress that the sphere of business in general and fashion as well managed to improve their position and perception by the customers due to opportunities provided by trade liberalization; it means that many companies have got chance to promote their products abroad gaining international recognition. Thus, a well known Italian fashion company Stefano Ricci opened its brand store on Pearl-Qatar, “The Pearl-Qatar distinguishes itself for being a centre for excellence, quality, style and glamour – having Stefano Ricci on the Island further adds to this”. (Pearl-Qatar, 2009) It means that international cooperation is mutually beneficial for companies running a fashion business. It should be stated that such partnership gives an opportunity for Qatar Company to develop more and more innovative and creative clothes design inspiring by well known world brands and developing personal style and high level of clothes quality. (Richardson, 2001)

The industrial unity with the world economy raised not only the export rate but tariffs in all developing counties. Qatar as well as other regions influenced the tariffs restore because of policy uncertainty increase; as a result many fashion companies develop tariff reforms for the purpose of undermining gains. So, tariffs changes stated a sharp need in credibility increase and policy uncertainty reduction.

Despite all the benefits of trade liberalization there are some companies experiencing shortcomings. It is connected with economical balance in certain business or industrial areas. It should be stressed that liberalization benefits are open only to highly industrial countries, while the states of the Third World experience trade barriers in the spheres of agricultural development and clothing. The problems are connected with export limitations and governmental restrictions being under the influence of the country ‘s position on the international level. (Sustaining Trade Liberalization, 2005)

So, it is necessary to underline the fact that international trade liberalization resulted in beneficial development of business all over the world; the most important factors are: export increase in developing countries; raised number of international trade agreements; reduction of trade limitations; positive transformations within the companies’ structures. The analysis of the liberalization phenomenon gave an opportunity to see on real examples that contemporary trade development leads to international unity and beneficial cooperation.

References

Givenchy Qatar, 2009. Web.

Richardson, David. 2001. “Exports Matter … And So Does Trade Finance,” The Ex-Im Bank In The 21st Century: A New Approach?

Seyoum, Belay. 2006. Trade liberalization and patterns of strategic adjustment in the US textiles and clothing industry. Nova Southeastern University.

Sustaining Trade Liberalization. 2005. Discussion Draft. Web.

The Textile Industry in Ghana and Trade Liberalization. 2009. Web.

United Fashion Company brings ”Excellence” to men’s fashion at The Pearl-Qatar. 2009. Web.

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NerdyTom. 2021. "International Trade Liberalization." December 7, 2021. https://nerdytom.com/international-trade-liberalization/.

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NerdyTom. (2021) 'International Trade Liberalization'. 7 December.

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