What is the primary goal of export promotion?

The primary goal of export promotion is to encourage domestic firms to enter foreign markets. When governments implement export promotion strategies, they aim to help local businesses expand their market reach beyond national borders. This can involve providing support such as financial incentives, access to market research, trade fairs, and export training. By encouraging firms to sell their products internationally, countries can enhance their overall economic growth, mitigate trade imbalances, and solidify their global presence.

The other options, while they may represent actions or outcomes related to trade, don't align with the specific objective of export promotion. Reducing domestic production costs is more about internal efficiency than market expansion. Limiting imports from foreign competitors focuses on protectionism rather than promoting exports. Improving domestic market regulations pertains to internal market conditions and does not directly relate to the act of promoting exports. Therefore, the focus on helping domestic firms engage internationally defines the essence of export promotion.