Organic Tea Ltd. is a Singapore based company dealing in import of tea from India and re-exporting it to many South East Asian countries. It has a huge godown near the sea port where it has made scientific arrangements for storing tea till it is re-exported. Name the type of external trade visible in the above case.
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Answer:
External Trade
Explanation:
The External Trade is also known as Foreign trade or International trade. On the basis of sale and purchase of goods and services, external trade can be divided into three kinds. They are: (a) Import trade
(b) Export trade
(c) Entrepot trade
In the above question, the type of trade is Entreport Trade
An entrepot trade is a kind of a trade where a country imports certain goods with the intention of exporting it to another country. An example for the same is that a certain Indian company may import rubber from Thailand and then exports it to a Japanese Company. This is known an entrepot trade.
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