A REVIEW OF INTERNATIONAL TRADE AND BUSINESS DEVELOPMENT IN GHANA TOWARD FOREIGN TRADE
DOI:
https://doi.org/10.37659/2663-5070-2021-6-7-89-95Keywords:
international trade, international business, foreign direct investmentAbstract
It has been established that economic globalization is an important area of research when it comes to doing business across borders and has impacted it in many ways. International trade, though largely an economic activity is governed by rules and regulations. For example, assistance giving through subsidies makes the exported products cheaper and more affordable and may provide additional incentives to produce same products by domestic enterprises.
The main goal of this work is to perceive implications of how the administration of policies on international market penetration by domestic producers in Ghana affects foreign trade and how to conduct business across borders, rules and regulations of the country. For this purpose, the paper identified how regulations of foreign trade can influence the way exporters and importers conduct business and the way to manage them.
The work has provided, first of all, a review of the foreign trade figures of Ghana, trade barriers and import prohibitions as a protectionism to protect domestic producers. Then review of established potential ways and opportunities of improving Ghana’s foreign direct investment in the framework of international trade has been conducted and justified.
The outcomes of proposed reviews helped the authors to clarify ways of improving and enhancing business development in the framework of foreign trade in Ghana. The methodological basis for this work were peer-reviews journal articles, acclaimed internet publications, personal data analysis and calculations.
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