Requirements for Globalisation:

To participate in, and fully integrate into the global economy, developing countries need to do the following:

i. Intensify promotion of free trade by removing trade barriers, adopting appropriate exchange rate policies and diversify into export of manufactured products.

ii. Promoted increased inflow of financial and foreign direct investments by liberalizing investment laws, offering tax incentives, easing restrictions on entry and profit remittances, strengthening the financial system and improving security system to protect lives and properties.

iii. Promoting adequacy and upgrading of existing telecommunications and

transportation infrastructures to ease and reduce costs of communication and transportation.

iv. Facilitate the movement of people across borders to promote integration through human migration.

v. Ensure good governance by promoting macroeconomic discipline, limitation of government's role in the economy preventing and sanctioning all forms of official and business corrupt practices.

vi. Promote the understanding and use of information and communication technology (ICT) in international trade and payments system.