Economic Theories of Foreign Trade Transactions

The international experience/practice shows that inside foreign trade relations has sought to lay the ground to uniform rules and to base an orderly development of international trade, so that economic operators engaged in foreign trade can trade with each other in conditions of fair and unmarked competition. The extent and implications of international trade on other areas of social life has increased considerably over the last five centuries, and today's volume has grown as fast. Also, deepening and diversification of economic interlinkings of the world countries, especially after the Second World War were brought to the fore the issue of international economic relations, both for specialists and for the general public. These changes have reactivated the interest of specialists for theories about international trade and hence the history of theoretical controversies regarding this issue. Taking into account the fact that foreign trade transactions is a key factor in sustainable the economic development of national economies, a fact recognized both by classical economists as well as modern ones, but also demonstrated by the economic reality, in this article I addressed/approached the economic theories of international trade.