Customs And International Trade Advice

      International trade is the exchange of products and services between countries. For nearly all countries involved in international trade, it is seen as one of the most important parts of a country’s economy. And, with advanced transportation, industrialization, multinational corporations, and outsourcing, international trade has a great impact on our lives. More..

The international trading system was developed after World War II as way of protecting major economies. Concerned with the emergence of protectionist trends, the United States and other countries joined hands to move toward liberalization of trade to help develop world and domestic economies.

However, in recent years, there are major challenges in the international trading system. The international trading system has been characterized by wider range of players involved in free trade negotiations; instances where an important role has been played by regional cohesion and integration like the liberalization efforts by NAFTA.

Protectionism has recently been seen with the form of tariff hikes by countries. However, the international trading system is important not just at domestic level but also on the global scale. There is no doubt that rules have to developed for areas like intellectual properties, competition policy, anti-dumping, electronic commerce and international harmonization and the World Trade Organization should be used as a forum where many countries can participate simultaneously and thus allowing efficient rule formulation.

While the world trading system has seen substantial enhancement of the international trading system, it is also characterized by worldwide surge in groupings in the form of regional cohesion and integration. However, regional integration has shown positive impact for countries, especially the Asian countries which are focusing on cross-border corporate activities and intra-regional trade.

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