International Trade

OutlineIntroductionThe current volume of global wad reflects the increasing greatness of the global marketCompanies can no longer rely on local anesthetic markets alone . globalisation requires that companies fatten up globally to intromit the various markets in the worldHistory of international tradeIn the past , companies turned external from dealing with international business due to certain factorsThe tax incomees that atomic number 18 imposed on importation meant that bringing in products were to a greater extent expensiveThe tariff rates served as added expense for the companiesCertain countries prohibited the intro of foreign goods and services in their local marketHowever , with the establishment of the universe of discourse Trade Organization international trade slowly became liberalizedMember countries were qualified to establish trade agreements among themselves which eased the process of trading the products of each countryTariff rates were removed and created exonerate trade which lowered the prices on imported and foreign goodsPrevalence of TodayToday , the world has become one free market where companies can offer there products and services to most(prenominal) countriesDifferent factors , both political and technological , have furthered the progress of international trade todayThe establishment of the WTO as the regulating and governing organic structure of international trade is the vital factor that has helped in exploitation free trade among various nationsAdvancements in technology has facilitated converse between people in different countries . motley forms of communication have made it easier for companies and their international clients to discuss various mattersTechnology has likewise bridged the gap between cultures .

People from various countries now foil to understand the cultures of other nations through certain forms of media such as the television and most in-chief(postnominal)ly , the internetConclusionCompanies should explore exporting their products in to remain competitive in the marketThe entry of foreign products into the local market creates greater competition and thus , companies need to expand their market by including those in other countriesThis is the most important way by which a business can boom , expand and continuously growResearchToday s market has expanded greatly . Globalization has allowed the formation of an international market where various goods and services whitethorn be offered , sold , and traded . The growth of international trade is best(p) evidenced by the fact that the volume of the international trade of goods and services grew to 7 trillion in 2000 . More importantly , such figure is continuously growing at an withal faster rateSuccess in today s business entails success not just in the local market but in the global market as well . However , in the past , international trade was not encouraged . Various barriers existed that turned companies away from trading in other countries . wizard important consideration in trading internationally was the tax that was given to imported goods Governments used to charge higher taxes on imported goods . Moreover tariff rates were also a vital factor that prevented the growth of international trade . essentially , trading internationally was simply too expensive and a big risk for many companies . Another reason...If you want to plump a full essay, order it on our website: Orderessay

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