The position of developing countries in international trade

Recent years have seen a substantial reduction in trade policy and other barriers inhibiting developing country participation in the world trade. Lower barriers have contributed to a dramatic shift in the pattern of developing country trade -away from dependence on commodity exports to much greater reliance on manufactures and services. In addition, exports to other developing countries have become much more important. These changes have profound implications for the role played by developing countries in the world economy and the trade system. Developing countries have become major players in the global economy. The outward-oriented strategies of many economies in emerging Asia have been reflected in high trade growth and a steady increase in their share in the world trade.