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International Business Environment and Trade Assignment

   

Added on  2021-01-02

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International Business Environmentand Trade
International Business Environment and Trade Assignment_1

Table of ContentsINTRODUCTION...........................................................................................................................11) UK's Trade Law related with export and import law..............................................................12)‘Export and Import scenario’...................................................................................................23) ‘Key documents’ are documents that will come up in any trading........................................34. Checklist required in export process ......................................................................................45) Different and carrier options and letter of credit....................................................................56) Application of law to business................................................................................................6CONCLUSION ...............................................................................................................................6REFERENCES................................................................................................................................7
International Business Environment and Trade Assignment_2

INTRODUCTIONInternational business refers to exchange of services and products between businesses aswell as people in many countries. Multinational enterprise is a main player in an internationalbusiness. With difficulties of global operating environments, it is necessary for firms to considerlegal, social, political, environmental and economic factors (Cavusgil and et. al., 2014).International business environment is multidimensional involving cultural differences, taxationproblems, political risks and exchange risks. This report is based on Jimmy Choo which isdesigner and provides luxurious brand of accessories. Under this report mention about Trade lawand import as well as export related scenario.1) UK's Trade Law related with export and import lawTrade Law of UK is governed by European Union law on the common commercial policy andcustom union at least until the withdrawal from European Union. International trading law isassociated with all rules and customs related with handling trade between two countries. Eachcountry is having its own distinctive trade policies and they are obliged to follow the same.International trade law can be define as a body of rules and regulation that regulate therelationship that exist between domestic market and international trade. This law governs theglobal exchange of product or services. It encompasses:-Free Trade Area: It can be define as a region that includes a trade bloc whose membercountries have enter into contract with other country in order to export or import their product orservices. It help in increasing the import-export tariffs of respective country. Free trade meansmore growth and development opportunities for the respective company who is usually eitherimporting and exporting their goods and services. According to Bureau of Economic Analysis,at least half of UK imports are not consumer goods they are inputs for UK based producers.FTA'a not only just eliminate or reduce tariffs and quotas, but they also address barriers that arepresent behind the border that prevent the flow of product or services. In addition to that, FreeTrade Agreement also promote investment, improve co-operation and also address other issuesthat are prevailing between countries such as intellectual property, government procurement ande-commerce (Wilson, 2014). World Trade organisation: It is an inter-governmental organisation that governs internationaltrade. It was officially commenced on 1 Jan 1995 and signed by 123 nations including India andUK as well. It is considered as the biggest international economic organisation all across the1
International Business Environment and Trade Assignment_3

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