Trade barriers are being removed. Subsidies are being phased out. Intra-regional economies are developing whereby intra-trade will grow. From global trade point of view, national boundaries shall become more porous. The centers of
gravity of certain economic activities will shift from developed nations to developing nations. With the removal of trade barriers and overall development of global economy, the volume of two-way trade may show significant increase.
Developing nations, instead of remaining agricultural and industrial raw material providing economies would strive to develop industrially.
Developing but large economies like India and China would not only play a crucial role in their own economic development but would also play larger role in International Trade particularly in agriculture, services & traditional industrial sector.
Geo-economic interests in a region will play greater role in trade. This would result in sharing of more goods and services by the neighbouring countries than what it was in the past. This would lead to emergence of regional/sub-regional economic powers, which would influence the flow of goods and services in the intra and inter region/sub-region.
Competition and cooperation will co-exist. There will be continual regrouping of trade blocks on the one hand and under current of non-tariff barriers on the other. Complexities will grow but so will the opportunities.
The influence of India would extend to in the regional economies of South and South-East Asia, Middle East and Africa.
Keeping in view the rapid changes taking place in the world, one of PEC’s key strategies in recent years has been to diversify its activities in tune with the liberised trade environment. Areas of special focus have included third country trading in agro-commodities, energy and raw materials sourcing, marketing of software & information technology related projects & services and promotion of exports of medium scale projects using appropriate technologies available in India, to the growing economies of Asia, Africa and Latin America.
Particularly, amid a wave of e-transformation of business globally, PEC is moving forward to integrate Information Technology (IT) and Financial Technology (FT) into its core competence, enabling the company to create new business opportunities for itself and its customers.