New Delhi, Dec 3 (KNN) Trading across national boundaries is an "economic imperative of our times" and those barriers to free trade should be dismantled, said Arun Jaitley, Union Finance Minister.

He said, "Trading across borders is an economic imperative of our times and this is going to increase with the times to come."

He said this during the 80th World Customs Organization Policy Commissionerate meeting, through a video link.

Jaitley said the steps taken by the government have helped in massive improvement in the ranking in trade across borders to 80 this year, from 146 earlier. 

"It is in the larger interest of every country to make sure that trade barriers are brought down to the extent it is possible," he said.

He said that there is a need for open trade as no country can manufacture all goods or specialize in rendering all services which are needed by consumers wanting the best quality at the lowest prices.

Nations across the world are now realizing that increased trade helps not just the global economy but also its own economy, he noted.