FOREIGN TRADE NETWORK
FOREIGN TRADE NETWORK

Summary/Abstract: Legislation was passed in July 1966 to amend the Foreign Trade Act as part of efforts to adjust the organization of foreign trade to the objectives of the Social and Economic Reform. The amendments meant a considerable liberalization of registration requirements for firms wishing to engage in foreign trade operations, especially with regard to productive organizations. The idea was to enable manufacturers, as the principal factors responsible for the successful implementation of the Economic Reform, to establish direct contact with foreign trading partners. The most important liberalizing measure was a slackening of registration requirements. This in effect meant that administrative approval for registration was no longer needed, and that the restriction whereby a business organization could only engage in one kind of foreign trade activities had been waived.

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