International Trade - Page 2

The Ecosystem Of Foreign Trade

When running an import and export business you’ll need various services that will make your operations proceed in a proper way. Otherwise you’ll end up with a number of losses and failures like incorrectly prepared documents, faulty organization of shipment, false declarations

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İhracatta Riskler

Export Risks In International Trade

In addition to the big advantages it provides, exporting brings a number of risks along. Small and medium-sized enterprises that haste to start exporting asap generally plunge into contacting potential buyers in an attempt to sell their products without studying the markets and export risks. As such they ignore scrutinizing the entry conditions in the beginning and make the deals with the leads. In the following process, they learn that they are required to fulfil a series of criteria such as tests, permissions, certifications or export-import related documents.

In addition to not knowing about the procedures, they may also be unaware of the potential risks that arise from various reasons like political, legal, cultural or financial risks. You can never be safe and prepared without recognizing these risks.

Photo by Zakaria ABDELKAFI / AFP
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Global Value Chain | What is GVC?

What is Global Value Chain?

Global Value Chain is the organizational structure created by spreading the production processes to various countries in order to provide sustainable competitive advantage. 

How does the GVC process work?

Businesses in developed countries that have strong currency, have relatively higher operating and employment costs compared to businesses in underdeveloped and developing countries. Besides, imported inputs also create an additional cost if they are far from raw materials they need in their production. In order to optimize these costs, companies tend to turn to a global formation and reshape their organizations in line with their needs. 

The first option is that; through diligent study, calculations and planning, if it’s found necessary, the production and/or assembly facility is moved to another country which is cheaper in terms of labour, production and proximity to resources. 

As a second option; the production strategy is changed. Instead of manufacturing all the parts in-house or procuring in the home country, they are mostly imported from other countries at cheaper prices. A close cooperation with the manufacturers who will contribute to the company by supplying parts in this new production scheme provides many benefits both to the manufacturer and to the country.

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Photo by Andrea Piacquadio from Pexels

Working With An Intermediary For Your Export Strategy

Entering new markets can be challenging for small or medium sized businesses regardless of the country they are located in for a number of reasons.

Especially considering the diversity of markets in the world; in addition to choosing the right market, there’s one big question for SMEs to find an answer to: how to enter those markets.

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Export Modes in International Trade
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Export Modes

Exporting and importing activities of SMEs play an important role in the global economy. Today most of the businesses start with the vision of exporting their goods as well as domestic sales. There are a number of reasons as to why it’s been getting more popular since the late 90’s. The first and biggest one is the internet. Then comes the affordable shipping and travel costs and so on. And today there’s another one that forces them to go global: fierce competition.

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Why Start Exporting?
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Motives for Internationalisation | Why Start Exporting?

Since the beginning of this millennium we have witnessed an enormous digital transformation in the world. The way we communicate, interact, travel, work, study, entertain; all the conventional means are either replaced by or stayed as alternatives to digital substitutes. You can prefer an ebook to a hardcover, a media streaming platform to a dvd, or you can order your headphones online instead of heading to a shop.

All these examples show that you’re a neighbour of anybody in any country, which also means you can be an employee of an employer from thousands of kilometers away or vice versa. In such a globalized world, as a company owner, everyone is your potential customer and everywhere is your potential market. What’s more, thanks to the digital revolution, even the smallest companies can export their products easily.

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The Ecosystem Of Foreign Trade

When running an import and export business you’ll need various services that will make your operations proceed in a proper way. Otherwise you’ll end up with a number of losses and failures like incorrectly prepared documents, faulty organization of shipment, false declarations to the government, miscalculation of duties and other costs.

Keep Reading