State trading
State trading: there are two basic types of state trading. First, there is international trade conducted by state-owned, state-controlled or state- licensed private enterprises in market economies, sometimes with exclusive rights over certain products. These enterprises trade like normal commercial firms and respond to market signals. Second, state trading is a feature of non-market economies where price may not be the only or the dominant consideration in making import or export decisions. In this case, there is significant potential for market distortions and little transparency. State trading should be distinguished from government procurement which covers purchases by governments for their own use. See also centrally-planned economies, marketing boards and single-desk selling.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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