Q. 13.9( 7 Votes )
In this age of Globalisation, all the countries of the world (big or small, rich or poor) are dependent on each for some resources or the other, thus and interconnected through trade relations. A few examples of such mutual cooperation are as follows:
•India exports spices and imports crude oil from Gulf countries.
•India exports raw material to China and imports finished steel products in return.
•Western Multinational companies have their client servicing units and back offices in developing countries of Asia and Africa.
•Regional organizations like SAARC, ASEAN, BRICS etc work towards addressing mutual developmental challenges like terrorism, poverty & hunger, providing relief during natural disasters etc. besides improving trade relations with one another.
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