Problem setting. The article is devoted to the study of the peculiarities of the legal regulation of foreign trade interms of doctrinal and legislative approaches. The author analyzes the basic concepts of foreign trade policy, identifies itsmain components, as well as describes the tools for regulating foreign trade, including customs tariffs.
Analysis of recent research and publications. Both domestic and foreign representatives of legal and economicsciences, such as Bachylo I., Zadykhailo D., Kleshchova S., Karvatska N., Sarkisyan L., Stavytsky L. and others, devotedtheir works to the study of the legal regulation of foreign trade.
Article’s main body. Presenting main material. CTD is carried out, as a rule, at the level of enterprises (sometimesthey are natural persons-entrepreneurs). The initial principle of the CTD is a commercial calculation based on economicand financial independence and self-payment. CTD – the sphere of entrepreneurship in the system of international exchangeof goods, services, works, information and results of intellectual activity, related to the preparation and implementationof foreign trade operations and agreements. Cross-border trade and free economic zones are considered as special regimesof the CTD.
Each country of the world in the framework of participation in foreign economic relations (both directly and throughnational entities of the CTD) pursues foreign economic policy, including in the field of foreign trade. The foreign economicpolicy of the state is the activity of the state aimed at the development and regulation of economic relations with othercountries. The implementation of foreign economic policy involves defining the strategic goals of the state in foreigneconomic relations in general and with individual countries and groups of countries, as well as developing methods andtools to achieve the goals and preserve the results achieved later. Foreign economic policy is aimed at the whole set offoreign economic activity, the hallmark of which is the international purchase and sale of goods and services, as well asthe international movement of material, monetary, labor and intellectual resources. Foreign economic policy is inextricablylinked with the domestic economic policy of the state. Therefore, its content is due to the tasks of expanded reproduction,which the country solves within its national economy. It can be argued that the main task of the foreign economic policyof the state is to create favorable external economic conditions for expanded reproduction within the country. Within theframework of the general foreign economic policy the state carries out:
a) foreign trade policy – is the state regulation of export and import operations;
b) export promotion policy – a policy aimed at selling in foreign markets goods for which the country has economicadvantages, stimulating the competitiveness of domestic enterprises with foreign ones, increasing the serial productionof competitive products in order to expand its exports (to foreign markets);
c) the policy of regulating the import and export of capital. A characteristic feature of capital movements at the presentstage is the inclusion of an increasing number of countries in the process of export and import of capital. At the same time,most countries of the world market economy simultaneously act as exporters and importers of investments. The influenceof developed countries on the movement of capital is carried out, for example, by stimulating the export-import of capitalat the national and interstate levels;
d) monetary policy – aims to maintain economic stability and create a solid foundation for the development ofinternational economic relations by influencing the exchange rate and currency exchange operations;
e) customs policy is a set of measures taken to ensure the most effective use of instruments of customs control andregulation of trade in the customs territory, participation in trade and policy tasks to protect the domestic market, stimulatethe national economy;
f) free trade policy – a policy of minimal government intervention in foreign trade, which develops on the basis offree market forces of supply and demand.
Conclusions and prospects for the development. The formation and implementation of state policy in the studyarea involves the possibility and necessity (not absolute) of state intervention in economic processes in order to create aneffective and efficient system of foreign trade. Fulfillment of this task is possible only under the condition of strategicplanning and conceptualization of the principles of state-administrative influence, which, in fact, is the content and essenceof state economic policy in general and state policy in the field of foreign economic activity in particular.
Understanding this issue and further resolving these pressing issues at the doctrinal (hereinafter – legislative) levelswill allow the state to be an active participant in foreign trade relations, and thus – to provide national participants in theserelations with potential markets for goods, works and services, to compete effectively in these foreign markets.
The Impact of Foreign Trade Policy on China's Economic Development
