International Management Essay Example | Topics and Well Written Essays - 500 words - 5

International Management - Essay Example What is a trade policy? It has been described as a government tool used to encourage or restrict import and export. These tools may be in form of tariffs, quotas and voluntary export restraint. There are also domestic mandatory regulations requiring for adoption to health and safety standards. The domestic mandatory regulations are done to encourage or discourage bringing of goods and services to the domestic economy. Another trading tool to encourage export production done by the government is paying of subsidy of certain products, such as subsidy to farming production. Subsidy to sugar production is common in the United States. Trade policies should also be negotiated in bilateral agreements as this will form part of the nation’s obligations and national policies. Antigua-Barbuda is a small country comprising of 442 square kilometers (171 square miles). For a clear idea of size, it is twice and a half the size of Washington D.C. It has an English speaking population of 74,097, has a workforce of 30,000 working for commerce and service, agriculture and other industry. Unemployment rate as of 2006 is 13%. (US Dept. of State. 2009) This policy has transformed the current level of export and importations of the country. It could be seen from Chart 1 below that exports have increased from US$400m in 2000-01 to US$600m in 2005-06, while the level of imports remain the same for the specified years. Country’s exports to Italy, Germany, Poland and Singapore consist of food, manufacturing, machines and petroleum products. Imported items are food, machines, chemicals and oil coming from China, Germany, Singapore and US. (Economy Watch) 3. Antigua-Barbuda’s trade policy. This part of the study will provide information on the national trade policy, information on agreements, regulations, standards and investment climate of