Country Controlled Buying Agent

Country Controlled Buying Agent

Summary of Country Controlled Buying Agent

A governmental agency or quasi-official corporation that is the sole or primary entity authorized to trade with foreign countries for the purchase of certain goods. Very often the buying agent is also the state monopoly for the sale of such goods within the country.

Country controlled buying agents are common in centrally planned economies but are used to a lesser extent in market economy countries to regulate imports of liquor, tobacco, and similar luxury or highly taxed products.

(Main Author: William J. Miller)


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