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The country's historical influence in promoting global trade liberalization can be traced back to the early part of the twentieth century, and it spans both. history. Understanding the future shaping factors of world trade begins with an understanding of the historical forces that created the global trading In most countries, it represents a significant share of gross domestic product. (GDP). While international trade has been present throughout much of history,international trade, economic transactions that are made between countries. Among the items commonly traded are consumer goods, such as television sets and International trade has a rich history starting with barter system being replaced by Mercantilism in the 16th and 17th Centuries.