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s the government with the opportunity to set high export duty rates and generate high revenues. During the 1950s and early 1970s the revenue generated from export duties had reached highs of 30 percent of total customs takings. However, the emergence and modernisation of less developed economies had led to more competition within these sectors, which results to ultimate reduction in duty rates. In general, over the last few decades the duties on exported goods have significantly reduced due to international pressure. It seems that the government has also adopted low export duties in order to attract foreign investments, and more crucially to make domestically produced goods more desirable to foreign importers. The process of export promotion had been widely used by the government in attempt to increase exports of domestic goods. This also led to the introduction of EPZs in selected states, which enabled foreign firms to engage in complete FDI and benefit from tariff and duty free exports and imports of manufactured goods. Under the export promotion plans the government had also set out additional funds to improve the infrastructure of the economy, which was crucial increasing trade. In addition, export duties are still widely used by the government as a tool to protect domestic manufacturers from price wars that are implemented from foreign markets. Moreover, in order for the government to be able to better regulate policies regarding imports and exports, the Foreign Trade Development and Regulation Act was introduced in 1992. The new act was beneficial to domestic manufacturers, since it enabled the government to effectively adjust rates in order to improve the efficiency and performance of domestic industries.

New Economic Policy (NEP) - Strengths and Weaknesses

The New Economic Policy (NEP) was a newly implemented government programme which was initiated during the mid 1970s. This new plan was built on five main policies that the government had chosen in order to help the economy become more energetic and productive. One of the first policies emphasised by the government was the need for trade liberalisation within the economy. This policy was very crucial for the improvement of the economy and the efficiency of domestic industries, since its main tasks were to ultimately eliminate licensing requirements, quantity restrictions, high tariff barriers, and restrictions on foreign investments. Moreover, the other policies that were also included in the frame work of the NEP were based on encouraging privatisation, free market economy, globalisation and transfer of technology. In addition, it can be stated that all these policies chosen by the government made up the basic foundations for the economy to be able to revive itself from the major economic downturns it was facing, and ultimately increase the productivity of domestic industries. Although the centrally planned economy which operated during the 1950s till early 1970s had failed to bring about major improvements within the economy, the NEP policies was widely used by the government and became subject to several alterations since its introduction in 1975. The report will now look to examine some of the key events that took place with regards to changes made to the NEP and the outcomes achieved through the performance of本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。