Free trade refers to an economic policy that allows for the unrestricted exchange of goods and services between countries without tariffs, quotas, or other trade barriers.

Foreign exchange reserves are critical assets held by a country’s central bank, comprising currencies, gold, and other financial instruments that are used to support and stabilize the national currency.

Exports are defined as goods and services produced in one country and sold to individuals, businesses, or governments in another country.

The International Chamber of Commerce (ICC) introduced Delivered Duty Unpaid as part of its Incoterms, which are standardized terms used in international trade to clarify the responsibilities of buyers and sellers.