Fundamentals of International Trade and Global Markets

📋 Course Outline

1. Introduction to International Trade
2. Market Entry Strategies
3. Cultural Differences
4. International Logistics
5. Trade Documents and Incoterms
6. Transaction Risks and Payments
7. Customs and Tariffs
8. Trade Milestones and Organizations
9. Major Exporting Countries
10. Major Importing Countries

📖 1. Introduction to International Trade

🔑 Key Concepts & Definitions

International Trade: The exchange of capital, goods, and services across international borders, involving roles such as the exporter (seller) and importer (buyer). It enables countries to access resources and products not available domestically.

Exporters and Importers: Exporters are entities that sell goods and services to foreign markets, while importers purchase foreign goods and services for domestic consumption. Both roles facilitate international trade flows.

International Trade Growth: The increase in the volume and value of cross-border trade over time, often segmented into primary (raw materials), secondary (manufactured goods), and tertiary (services) sectors. Trends show a shift towards the tertiary sector, with trade volume increasing across all sectors.