How to Maximize Exports?
“Despite being agriculture economies, developing nations’ export of agricultural products is very low. The government should rise above petty politics as the state as well as the national level and make sincere efforts in this regard.”
Exports ought to be increased for the overall development of any country. Let’s take the case of developing nations.The very first point to be noted in the export sector of developing countries is that despite being agriculture economies, developing nations’ export of agricultural products is very low. This is the one field where considerable progress can be made in the liberalization era, provided we are able to ensure regular and sustained supply of acceptable quality goods.
Furious marketing efforts and organizational reforms in this field are urgently called for. Efforts should be made to stabilize the production of sugar, rice, marine products, fruits, pulses and vegetables, tea, jute production, tobacco and efforts should be made to find out new markets for them.
In order to boost the exports of engineering goods, cotton, textile, coffee, iron-ore, etc. export incentives and assistance should be provided by he government. The government should rise above petty politics as the state as well as the national level and make sincere efforts in this regard.
Therefore by reduction of costs, improvement in quality, better servicing of equipments and aggressive marketing, developing nations can achieve massive expansion in exports. This will make them economically independent, as they would have the much-required sources of foreign exchange within their reach.
A fact that needs to be pointed out here is that in this field small firms have played a major role. These firms can expand their exports further considerably if they are provided marketing infrastructure.
Rapid growth of exports is a must and therefore, must remain the first priority on the policy agenda. An important issue in this context is the management of foreign trade and exchange rate.
The export growth, so far has been les than adequate. Main factors responsible for this slow growth includes world recession, collapse of east European market and the delay in export responses.
As a matter of fact, the strength of export sector primarily depends upon the strength of domestic economy and world market situation. At present both of these are unfavorable. However, as the economy is stabilizing gradually, we can hope for a good future for the developing nations, as far as exports are concerned.
Author - DeeKay
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