Export and Import management (Part -1)

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Export and Import management (Part -1)

Attend any 4 questions.  Each question carries 25 marks

(Each answer should be of minimum 2 pages / of 300 words)

Q. 1.       A country must export in order to be able to import. But how can it find out how much it needs to export? How can it plan its export? Explain.

Answer:As you can imagine, many foreign markets differ greatly from the United States. Some differences include climatic and environmental factors, social and cultural factors, local availability of raw materials or product alternatives, lower wage costs, varying amounts of purchasing power, the availability of foreign exchange, and government import controls. Once you have decided that your company is able and committed to exporting, the next step is to develop a marketing plan.

A clearly written marketing strategy offers six immediate benefits:

Q. 2.       What is Exporting? In order to accomplish this, an exporter must do what any seller must do, whether he is marketing his products in his own country or abroad. Explain.

Answer:The term export means shipping the goods and services out of the port of a country. The seller of such goods and services is referred to as an "exporter" and is based in the country of export whereas the overseas based buyer is referred to as an "importer". In international trade, "exports" refers to selling goods and services produced in the home country to other markets.

Export of commercial quantities of goods normally requires involvement of the customs authorities in both the country of export and the country of import.

Q. 3.       As an international trader, you’re an intermediary in the buying and selling, or importing and exporting, transaction. Therefore, you have to determine not just the price of the product, but the price of your services as well. These two figures are separate yet interactive. Explain.

Answer:

Q. 4.       What are the things to consider before exporting your products? Discuss.

Answer:Businesses export their products and services for many different reasons, but generally, the benefits that can be achieved through exporting are:

·         Promote business growth

·         Exploit technology and expertise

·         Enhance competitiveness

·         Improve return on investment

As with everything relating to business, exporting has its own share of risks involved. Prior to any commitment, you should be fully aware of these potential risks and develop contingency plans that can be implemented should they occur. Some typical areas of risk in exporting include:

Q. 5.       Why foreign government impose product regulations that are common in International Trade and are expected to expand in the future. These regulations can take the form of high tariffs, or non-tariff barriers, such as regulations or product specifications. Explain.

Answer:

Q. 6.       Explain SAARC Agreement for Preferential Trading Arrangement.

Answer:The South Asian Free Trade Area (SAFTA) is an agreement reached on 6 January 2004 at the 12th SAARC summit in Islamabad, Pakistan. It created a free trade area of 1.6 billion people in Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka (as of 2011, the combined population is 1.8 billion people). The seven foreign ministers of the region signed a framework agreement on SAFTA to reduce customs duties of all traded goods to zero by the year 2016.

The Agreement on SAARC Preferential trading

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