World Trade Organisation Archives

Trade Wars and Tariff Woes International trade which is the exchange of goods and services (imports and exports) between countries, could give them access to resources and products they otherwise would not be able to use. Countries could export goods in order to import items which they cannot produce themselves. By trading internationally, not only the consumers enjoy larger variety of goods and services, but also resulting increased competition can lead to lower prices and more product innovation, which by having more choice, better quality and cheaper products would raise the standard of living. Markets abroad where there is an increase in demand for their products will allow firms to exploit in large scale production. Also firms will be exposed to new ideas and skills as multinational corporations might bring new manufacturing skills to a developing country. It allows countries to specialise in goods and services they are best at ...

Tourism Revival to Shore Up Economy-by Lakshman I. Keerthisinghe Tourists bring much needed Dollars Source:Dailynews Tourism provides employment to the poorest of the poor. Gram seller earns something, auto-rickshaw driver earns something, Pakoda seller earns something, and tea seller also earns something. Narendra Modi-Indian Prime Minister Sri Lanka Tourism has declared 2022 as the ‘Visit Sri Lanka Year’ following the integrated five year Global Communication Campaign targeting to attract six million tourists and USD 10 billion output by 2025 in spite of the challenges posed by recent COVID spread and economic crisis facing Sri Lanka affecting the tourism industry. Travel advisories have been issued by Canada and the United Kingdom advising their citizens to restrict visiting Sri Lanka due to the country’s frequent power cuts, gas and food shortages escalating food prices. In addition to the fear of the pandemic, the present spread of dengue in the country has placed ...