Export promotion refers to actions directed toward supporting local manufacturers or services providers of goods or services to assist them gain access to the larger international market with a view to earning foreign exchange and gaining trade advantages. It involves things like; giving grants to export oriented manufacturers to reduce their cost or boost production, providing cash or cash equivalent incentives to exporters who had exported and have repatriated their earnings back into the local economy, provision of trade leads to exporters, creating the enabling environments for exporting businesses such as those seen in free trade zones, enacting policies supporting exporting, taking exporters on international trade shows and fairs, providing export related seminars, workshops and training to individuals, government agencies, businesses and association among others

While, Import substitution refers to actions directed at encouraging local production of goods or services as against importing such goods or services from outside a local market its all with a view to gaining trade advantages and reducing trade deficits. It seeks to reduce a country’s dependency on foreign manufacturing or service provision by engaging in policies that promote local production industrialization which in turn supports exporting. One could conclude that import substitution could be a tool for export promotion. It includes : high tariffs on imports, increase support for local manufacturing and service provision sector via protective policies enactment among others.