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09 март category Business & Economy Review: 0

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In addition to visible trade, which involves the import and export of goods and merchandise, there is also invisible trade, which involves the exchange of services between antions. Brazilian coffee is usually transported by ocean vessels because these ships are the cheapest method od transportation. Nations such as Greece and Norway have large maritime fleets, which can provide this transportation service.

09 март category Business & Economy Review: 0

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A balance of payments (BOP) is the all monetary transactions between a country and the rest of the world. These transactions include payments for the country's exports and imports of goods, services, and financial capital, as well as financial transfers. After calculation all of the entries in its balance of payments, a nation has either in its balance of payments, a nation has either a net inflow or a net outflow of money.

09 март category Business & Economy Review: 0

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An import/export transaction usually requires a lot of complicated documentation.

Many different arrangements have to be made and this can be difficult when one firm is dealing with another firm on the other side of the world.

Firstly, there should be a shipping agent  and/or a freight forwarder (forwarding agent) who takes responsibility for the documentation and arranges for the goods to be shipped by air, sea, rail or road. Moreover, these services may also be carried out by the supplier's own export department, if they have the expertise.

09 март category Business & Economy Review: 0

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Many nations impose limits on trade. There are four main types of trade restrictions: tariffs, subsidies, quotas and cartels. The tariff is a tax placed on imported goods. Tariffs are of two kinds - revenue and protective. A revenue tariff raises money for the government. For this reason, revenue tariffs are generally low so that consumers will continue to purchase the taxed goods. However, protective tariff taxes an imported goods so that the price becomes as high as, or higher than the similar domestic manufactured product. Protective tariffs make imported products more expensive and encourage people to buy goods produced in their own country. (example: if the cost of producing a pair of shoes is 20$ in the United States and 10$ in Italy, Italian shoes are cheaper. Americans then would buy Italian shoes to save money. To encourage domestic shoe purchase, the federal government could levy a tariff of 15$ pair on imported Italian shoes)

09 март category Business & Economy Review: 0

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Thе World Trade Organization came into being in 1995. The WTO is the successor to the General Agreement on Tariffs and Trade (GATT) established in the wake of the Second World War. So the multilateral trading system that was originally set up under GATT is already 50 years old. The past 50 years have seen an exceptional growth in world trade. Merchandise exports grew on average by 6% annually. GATT and the WTO have helped to create a strong and prosperous trading system contributing to unprecedented growth. The system was developed through a series of trade negotiations, or rounds, held under GATT.

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