What is Letter of credit? Letter of credit is the most important document in international trade. It forms the basis of most of the transactions in world trade.
Price is an integral part of a product. A product cannot exist without a price. Price affects demand. Price also affects even the economy of a nation as
The post second world war period witnessed a growing interest in integrating national economies at regional levels. The need for Realization of limitations imposed by national frontiers, Benefits
General Agreement on Tariffs and Trade (GATT) brought about an orderly development of the International trade. It established a forum for continuing consultations. It brought to the conference
Functions of GATT In fulfillment of its objectives, GATT adopted certain measures. These may be discussed under the following headings. Most favored nation clause Trade negotiations Tariff and
The following are the non tariff measures of General Agreement on Tariffs and Trade (GATT) for effective international discipline and favorable treatment for developing countries. Non-Tariff measures of
The World Bank recommended the establishment of an International Trade Organization (ITO). Instead of ITO, General Agreement on Tariff and Trade (GATT) was formed in 1948. Objectives of
Certain institutions have been established exclusively for the purpose of quality control and inspection in India. These include export inspection council, export inspection agencies, Bureau of Indian Standards,
Standardization disregards marked differences in markets. The following are the strong reasons for adopting standardization. Why is standardization adopted in International Marketing? 1. Socializing forces prevailing worldwide are