On 24 December 1998 the government of Pakistan received a Call Notice from the US government for consultation regarding the establishment of quantitative restraints on Pakistani exports of combed cotton yarn (Category 301).
Most small economies find it difficult to operate alone in the global economy, and less developed economies face particular hurdles in their quest for prosperity. The global trading environment is becoming increasingly integrated, and the last decade has seen a number of regional groupings form to capitalize on the benefits of more efficient use of resources and economies of scale.
From the mid-1970s onwards, Nigeria’s main trade policy instruments shifted markedly away from tariffs to quantitative import restrictions, particularly import prohibition and import licensing.
When his company received a hefty order from a Swedish importer in August 2000, Prem Raj Tiwari rejoiced with much enthusiasm at a relatively big business deal. The single largest export order the company ever had for ayurvedic products — processed medicinal herbs — had strengthened his aim of reviving the company’s languishing export trade by cashing in on the flourishing world demand for herbal products.
Nepal is a small landlocked country situated between China and India. Access to sea is only through India, and India is also Nepal’s major trading partner. Trade with India constitutes 55.9% of total trade, according to 2003 data. A bilateral trade treaty between Nepal and India governs the trade between these two countries, and similarly the transit treaty between two countries provides Nepal with access to the sea.