International Trade: Analyzing Key Stakeholders and Processes

This assignment examines the core concepts of international trade. It delves into the key stakeholders involved in the import and export processes, including importers, exporters, governments, banks, and shippers, highlighting their roles and influence. The assignment also explores the essential documents used in international trade, such as letters of credit and bills of lading, emphasizing their significance. Furthermore, it addresses the importance of understanding and adhering to ethical principles in international trade to mitigate risks and maintain competitiveness. The assignment references academic sources to support its analysis, providing a comprehensive overview of the subject.

Running head: INTERNATIONAL TRADE
International trade
Name of the student
Name of the university
Author note

1INTERNATIONAL TRADE
Question: 1
In the import and export process, the major stakeholders those are involved are the
importers, exporters, government, banks and shippers. Importers and exporters are the key and
core stakeholders due to the reason that consignments are getting transferred between them.
Hence, the most of the interests in the trading process are being associated with the importers
and exporters. In addition, government is also involved in the process because of their authority.
This is due to the reason that it is the government who permits the importers and the exporters in
indulging in the trading activities. In addition, the regulations and standards are being set by the
government, which should be followed by other stakeholders in the process. Hence, government
is also a major influential factor in the import export process. Banks and financial institutions are
also involved in the process due to the reason that they are the major source of funding for the
importers and exporters (Amiti, Itskhoki and Konings 2014). They are the source of guarantee
and reliability that are required in the trading process. Lastly, shippers are also involved in the
process because they are responsible for transporting the goods to importers from exporters. The
efficiency and cost effectiveness of the shippers will determine the extent to which the import
export process will be effective.
Question: 2
In the import and export process, different types of documents are involved, value and
propositions. Documents such as letter of credit, bill of origin and bill of lading are some of the
key documents required for the import and export process. These are required for different
utilities and for seamless process of trading. Furthermore, value is required and involved in the
import and export process because the trading process is based on the value (Takahashi 2016).

2INTERNATIONAL TRADE
The relationship between the exporters and importers are on the basis of the value of the
consignment. Hence, it is the most important element involved in the process. In addition, it
should also be noted that the extent to which the value will have positive impacts on both
importers and exporters, trading process will be effective.
Question: 3
In the international trading process, it is important to have the clear understanding of the
principles involved. This is due to the reason that alignment and following of the principles will
help in maintaining the ethical standards. The chance of emergence of unethical practices is more
in the international trade due to the larger geographical distance and thus clear and good
understanding of the principles should be there to avoid them. In addition, it should also be noted
that international trading process is having the involvement of number of complex legal terms
and formalities between different countries. Hence, the involved stakeholders should have the
proper knowledge about these principles and how they should be followed. The more will be the
alignment with these principles, the lower will be risks associated with the trading process. It can
be concluded that these principles are the key factors in gaining competitiveness in the
international trade.

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Reference
Amiti, M., Itskhoki, O. and Konings, J., 2014. Importers, exporters, and exchange rate
disconnect. American Economic Review, 104(7), pp.1942-78.
Takahashi, K., 2016. Blockchain technology and electronic bills of lading. The Journal of
International Maritime Law Published by Lawtext Publishing Limited, 22, pp.202-211.