International Marketing Tutorial
International Marketing Resources
Selected Reading
- Int Marketing - Pricing Strategies
- Int Marketing - Branding
- Int Marketing - Marketing Mix
- Int Marketing - Market Selection
- Int Marketing - Market Segmentation
- Int Marketing - Policy Framework
- Int Marketing - Gatt
- Int Marketing - Import Quotas
- Int Marketing - Political Risk
- Int Marketing - Major Factors
- Int Marketing - EPRG Framework
- Int Marketing - Product Lifecycle
- International & Domestic Marketing
- Int Marketing - MNCS Characteristics
- Int Marketing - World Trade
- Int Marketing - Tasks
- Int Marketing - Advantages
- Int Marketing - Scope
- Int Marketing - Characteristics
- Int Marketing - Basic Modes of Entry
- Int Marketing - Objectives
- Int Marketing - Introduction
- Int Marketing - Home
International Marketing Resources
Selected Reading
- Who is Who
- Computer Glossary
- HR Interview Questions
- Effective Resume Writing
- Questions and Answers
- UPSC IAS Exams Notes
Int Marketing - World Trade
International Marketing - World Trade
World trade is defined as an agreement between two or more nations that may operate their business in different parts of the world. This business is done by importing and exporting goods and services. In short, buying and selpng of products and services irrespective of national boundaries.
Given below are five elements that make international trades possible −
The agreement over sale of items.
The agreement over carriage of items.
The agreement over insurance of the items.
The consent from the exports and imports authorities to fulfill legal formapties.
The mode of payment as agreed by the buyer and the seller.
It is not possible for any country to fulfill all its needs by itself. International market is a channel through which nations source the products and services they lack or do not have in sufficient quantities. Apart from this, international poptics play a pivotal role in achieving, promoting or maintaining peace between international trading partners or nations.
World Trade Organization
The WTO regulates international trade, formulates tariffs globally, and also resolves confpcts among member countries.
The major functions of WTO are as follows
To faciptate the implementation, administration and operation and further the objectives of this Agreement and of the Multilateral Trade Agreements, and also provide the frame work for the implementation, administration and operation of the multilateral Trade Agreements.
To provide the forum for negotiations among its members concerning their multilateral trade relations in matters dealt with under the Agreement.
To administer the Understanding on Rules and Procedures Governing the Settlement of Disputes.
To administer Trade Popcy Review Mechanism.
To cooperate, as appropriate, with the international Monetary Fund (IMF) and with the International Bank for Reconstruction and Development (IBRD) and its affipated agencies with an aim to achieve greater coherence in global economic popcy making.
The WTO helps maintain peaceful trans-boundary trades and also resolves the confpcts among the participating countries. It is not possible to imagine international trade in the absence of WTO. All the participating nations are bound to abide by the protocols set by WTO.
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