This section summarises key developments in trade policy since the mid-1970s. It details the important trade measures currently affecting imports and exports of agro-food, including price based instruments (e.g. tariffs and other import duties, and export taxes), quantitative restrictions (e.g. import quotas and export bans) and regulatory requirements (e.g. licensing and quarantine arrangements). Multilateral, regional and bilateral trade relations are also discussed. Foreign trade was severely constrained: controlled by central decision makers and carried out by a small number of SOEs with monopoly rights. Exports were discouraged by an overvalued exchange rate and the use of export duties.