International trade Over many years, we have seen that most countries have progressively opened their economies to international trade, either through the multilateral trading system, increased regional cooperation or as part of outward-oriented domestic reform programs. We have gone beyond the system with the third world being merely the exporter of raw materials and the importer of manufactures.
Accompanying charts can be found at the end of the speech. 1. It was in the Reserve Bank’s Payment Systems Vision 2005–08 document, which I was fortunate enough to draft, it was indicated that the focus would be on setting up of a new institution for all retail payment systems and operationalizing a national settlement system.