As globalization advances and trade barriers continue to diminish, international trade has grown more intricate. The complexity of navigating different legal systems, diverse trade practices, and various logistical challenges makes a standardized understanding crucial. This is where Incoterms – or International Commercial Terms – come into play. Serving as the foundation of international contracts of … Read more
Trade agreements have long been the pillars supporting the structure of global commerce. They not only set the rules of international trade but also reflect the shifting priorities, tensions, and aspirations of the world economy. From the establishment of the General Agreement on Tariffs and Trade (GATT) to the advent of the World Trade Organization … Read more
International trade serves as the engine that propels global economic growth. From small enterprises to multinational corporations, businesses reach out across borders, fueling a global exchange of goods, services, and ideas. Central to this intricate system is the myriad of customs regulations ensuring that goods flow seamlessly and lawfully. In 2023, this framework of international … Read more
International commerce is a labyrinth of processes and protocols, with every item shipped from one country to another being subject to regulations. A significant component of this complex system is the use of tariff codes, or Harmonized System (HS) codes, an international nomenclature developed by the World Customs Organization (WCO) for the classification of products. … Read more
International commerce is a critical driving force of the global economy. It influences the prosperity of nations, stimulates innovation, and allows for the exchange of goods and services across the globe. However, it has also been associated with several negative environmental impacts, such as pollution, deforestation, and biodiversity loss. As the global community becomes increasingly … Read more
Argentina’s New Import Regulations The Argentinian government has recently imposed more restrictions on foreign trade, a move that has raised concerns among experts and industry professionals. A new resolution (26/2022) has been enacted, significantly increasing the number of items subject to non-automatic licenses (LNA) for importation, adding more permissions and bureaucracy for certain goods to … Read more
International trade is undergoing a seismic shift thanks to the rapid advancements in technology, with India taking a pole position in this transformative journey. This observation was shared by Sunil Barthwal, Secretary of the Department of Commerce, during a recent media conference. This conference was organized in conjunction with the G20 Meeting on Trade and … Read more
Early Beginnings of Trade The history of international trade dates back to prehistoric times when prehistoric people traded goods and services to satisfy their respective needs. The first international traders were the merchants of the East Mediterranean coast, who bought and sold goods to other nations as early as 3,000 BC. The Silk Road, a … Read more
The Argentinian foreign trade is facing severe hardships as shipping companies are now charging freights at the source due to a new scheme imposed by the country’s Central Bank. This change is leading to increased costs, endangering the competitiveness of exports, and potentially triggering a wave of layoffs in the logistics sector. Central Bank’s New … Read more
The Russian Federation’s Disruption of the Grain Agreement The ongoing grain agreement dispute, primarily involving Russia and Ukraine, is revealing a significant power play in the realm of international trade. According to Ukraine’s Permanent Representative at the UN, Serhiy Kyslytsia, Russia has been manipulating the situation to its advantage, alleging that the grain agreement is … Read more