THE ESSENCE AND IMPORTANCE OF FOREIGN TRADE POLICY IN MODERN ECONOMIC DEVELOPMENT

Foreign trade policy plays a crucial role in shaping the economic development of countries in an increasinglyinterconnected global economy. This article examines the essence of foreign trade policy, its theoretical foundations,and its practical importance in promoting economic growth, structural transformation, and international competitiveness.The study analyzes the main instruments of foreign trade policy, including tariffs, non-tariff barriers, export promotionmeasures, and trade agreements, and evaluates their impact on national economies. Particular attention is paid tothe role of foreign trade policy in ensuring macroeconomic stability, protecting domestic industries, attracting foreigninvestment, and integrating countries into global value chains. The findings highlight that a well-designed and balancedforeign trade policy contributes to sustainable economic development, enhances productivity, and supports long-termnational economic interests in the context of globalization.