In addition, the modernization of port systems in developing countries has played a key role.
“As it is known, one of the positive effects for foreign trade operators of having modern ports available in their country is the reduction of logistics costs, which, as indicated by several studies carried out by specialized organizations, is fundamental for the competitiveness of foreign trade of countries, since logistics costs have an important weight in the price structure of traded products, especially when we have that the free trade agreements signed and in force, substantially reduce or eliminate tariffs, which then generates that the logistic costs associated with the goods that are exported become relevant so that the products placed in certain market arrive at better prices, and this is also reflected with respect to the goods that are imported, which will arrive with better prices to the final consumers”, exposes the arbitrator lawyer and professor of Maritime Law, José Antonio Pejovés.
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