ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Landlocked developing countries thus pay a high price for not having a sea port of their own. Their trade depends on ports of other countries. The worse transport links are, the higher the transaction costs rise.

Detailed explanation-2: -Lack of territorial access to the sea, isolation from world markets and high transit costs continue to impose serious constraints on the overall socio-economic development of Landlocked Developing Countries (LLDCs).

Detailed explanation-3: -landlocked country, an independent sovereign state that does not have direct access to an ocean, such as the Atlantic, or to a sea that is not landlocked, such as the Mediterranean. Countries such as Kazakhstan, in Central Asia, that only have access to a landlocked sea such as the Caspian are considered landlocked.

Detailed explanation-4: -He states, “If you are coastal, you serve the world; if you are landlocked, you serve your neighbors.” Others have argued that being landlocked has an advantage as it creates a “natural tariff barrier” that protects the country from cheap imports. In some instances, this has led to more robust local food systems.