International trade means doing business and trade practices outside the borders of the country. This type of trade practice can be done throughout the whole world.
International Trade refers to the business practices which are carried outside the borders of a country. This trade is done on a global basis and any country can participate in it. Basically this business is carried among the manufacturers, suppliers and buyers of different countries i.e. if the supplier is from another country and the buyer is from another country. In case if the buyer and seller are from the same country, then it cannot be called as an international business.
International Business comprises buying and selling of goods and services among two or more countries. Generally international business comprises of three types of trade: import and export. Both these types of global trades can be understood as under:
Export: Export is a type of trade where a country sells or supply their goods and services to some other country for business. We can take the example of China supplying mobile phones in India. Here Chine is the exporter country and India is importer country.
Import: The other type of global trade is import, where a country buys goods and services from another country. In the above example India is the importer country as it is buying mobile phones from China.
International trade is very helpful in increasing the growth of a country as well. Further, there are many other advantages of global business. It provides the consumers a wider choice from which they can choose products as well as facilitates the mobility of labor, capital and technology.
Now-a-days International trade is increasing day by day and gaining huge popularity. Globalization is the main reason behind the increase in international business. These days many companies have entered in the global markets to get greater exposure and expansion of their businesses. But it is not possible for every new company to establish in such competitive era of globalization. So, many B2B portals are also helping such companies in promoting their businesses.
These business to business portals help the companies to promote their business worldwide by advertising their products and services on the websites. It also serves as a common platform where buyers and sellers can meet for the exchange of products and services. Promoting your business through these web portals help you to grow and expand your business throughout the world. So, this is one of the best ways of sales promotion as well.
