Trade Policies for Developing Nations

Trade policies are healthy regimens of trade surplus.  Developing countries are always searching for a way to increase their economy by exchanging product and services with developed countries. There has to be policies in order to make sure that these developing countries build a balanced and structure industry and in a process that will certify an economic growth and benefits. 
If a developing country wants to become more industrialized and be economically interdependent,  they must be involved in trade policies.

For example, Panama is a developing country whose economy has grown significantly in the past year.  Panama is a member of WTO since 2007 and maintains an essentially liberal trade and investment regime, characterized by relatively low tariffs and few non-tariff barrier.

Panama's service-oriented economy acts as an international hub for activities such as maritime transport, distribution services, and banking. In contrast, the production of a number of agricultural and manufactured goods receives assistance through border protection and fiscal incentives (WTO, 2012).

As well, trade policies are methods to protect the nation from dumping activities, subsidies and other types of trade barriers.

To conclude, developing nation must be involved in effective trade policies in order to protect domestic productions, take advantages of developed countries production and become economically interdependent.