what do you under stand by foreign trade and main characterstics
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foreign trade means to sell your products to another country
it character stics
it helps in your country economy
it introduce your products to another country
it connects world
it character stics
it helps in your country economy
it introduce your products to another country
it connects world
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foreign trade is exchange of goods and services across International borders
Long chain of middlemen:
The procedure of international trade is very long and complex. It is very difficult for buyers and sellers to perform all the formalities themselves. They require the services of expert middlemen such as, indent houses, forwarding agents, clearing agents, foreign exchange banks, etc.
Mutually acceptable currency:
The currencies of importing and exporting countries generally are different. Therefore, it is necessary to find out a mutually acceptable currency. Generally, dollar and pound sterling are selected. These currencies are known as hard currencies because they are acceptable all over the world.
Long chain of middlemen:
The procedure of international trade is very long and complex. It is very difficult for buyers and sellers to perform all the formalities themselves. They require the services of expert middlemen such as, indent houses, forwarding agents, clearing agents, foreign exchange banks, etc.
Mutually acceptable currency:
The currencies of importing and exporting countries generally are different. Therefore, it is necessary to find out a mutually acceptable currency. Generally, dollar and pound sterling are selected. These currencies are known as hard currencies because they are acceptable all over the world.
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