An export in international trade is a good produced in one country that is sold into another country or a service provided in one country for a national or resident of another country. The seller of such goods or the service provider is an exporter; the foreign buyer is an importer. Services that figure in international trade include financial, accounting and other professional services, tourism, education as well as intellectual property rights.
Economic sanctions are commercial and financial penalties applied by one or more countries against a targeted self-governing state, group, or individual. Economic sanctions are not necessarily imposed because of economic circumstances—they may also be imposed for a variety of political, military, and social issues. Economic sanctions can be used for achieving domestic and international purposes.
Non-tariff barriers to trade are trade barriers that restrict imports or exports of goods or services through mechanisms other than the simple imposition of tariffs.
The South Asian Free Trade Area (SAFTA) is an agreement reached on January 6, 2004, at the 12th SAARC summit in Islamabad, Pakistan. It created a free-trade area of 1.6 billion people in Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka to reduce customs duties of all traded goods to zero by the year 2016. The SAFTA agreement came into force on January 1, 2006, and is operational following the ratification of the agreement by the eight governments. SAFTA required the developing countries in South Asia to bring their duties down to 20 percent in the first phase of the two-year period ending in 2007. In the final five-year phase ending in 2012, the 20 percent duty was reduced to zero in a series of annual cuts. The least developed countries in South Asia had an additional three years to reduce tariffs to zero. India and Pakistan ratified the treaty in 2009, whereas Afghanistan as the 8th member state of the SAARC ratified the SAFTA protocol on 4 May 2011.
Countertrade means exchanging goods or services which are paid for, in whole or part, with other goods or services, rather than with money. A monetary valuation can however be used in countertrade for accounting purposes. In dealings between sovereign states, the term bilateral trade is used.
In its economic relations, Japan is both a major trading nation and one of the largest international investors in the world. In many respects, international trade is the lifeblood of Japan's economy. Imports and exports totaling the equivalent of nearly US$1.309.2 Trillion in 2017, which meant that Japan was the world's fourth largest trading nation after China, the United States and Germany. Trade was once the primary form of Japan's international economic relationships, but in the 1980s its rapidly rising foreign investments added a new and increasingly important dimension, broadening the horizons of Japanese businesses and giving Japan new world prominence.
The Council of Arab Economic Unity (CAEU) was founded by Egypt, Iraq, Jordan, Kuwait, Libya, Mauritania, Palestine, Saudi Arabia, Sudan, Tunisia, Syria, United Arab Emirates and Yemen on May 30, 1964, following an agreement in 1957 by the Economic Council of the Arab League.
Relations between the Grand Duchy of Moscow and the Persian Empire (Iran), officially commenced in 1521, with the Safavids in power. Past and present contact between Russia and Iran have long been complicatedly multi-faceted; often wavering between collaboration and rivalry. The two nations have a long history of geographic, economic, and socio-political interaction. Mutual relations have often been turbulent, and dormant at other times. Currently Russia and Iran act as economic partners to one another, since both countries are under sanctions by much of the Western world.
India–Iran relations refer to the bilateral relationship between the Republic of India and the Islamic Republic of Iran. Independent India and Iran established diplomatic relations on 15 March 1950. During much of the Cold War, relations between India and the erstwhile Imperial State of Iran suffered due to their differing political interests: India endorsed a non-aligned position but fostered strong links with the Soviet Union, while Iran was an open member of the Western Bloc and enjoyed close ties with the United States. While India did not welcome the 1979 Islamic Revolution, relations between the two states strengthened momentarily in its aftermath. However, Iran's continued support for Pakistan in the India–Pakistan conflict and India's close relations with Iraq during the Iran–Iraq War greatly strained bilateral ties. In the 1990s, both India and Iran supported the Northern Alliance against the Taliban in Afghanistan, the latter of which received overt Pakistani backing and ruled most of the country until the 2001 United States-led invasion. They continued to collaborate in supporting the broad-based anti-Taliban government, led by Ashraf Ghani and backed by the international community, until the Taliban captured Kabul in 2021 and re-established the Islamic Emirate of Afghanistan. India and Iran signed a defence cooperation agreement in December 2002.
For further details see the "Energy crisis" series by Facts on File.
An import is the receiving country in an export from the sending country. Importation and exportation are the defining financial transs of international trade.
A Certificate of Origin or Declaration of Origin is a document widely used in international trade transactions which attests that the product listed therein has met certain criteria to be considered as originating in a particular country. A certificate of origin / declaration of origin is generally prepared and completed by the exporter or the manufacturer, and may be subject to official certification by an authorized third party. It is often submitted to a customs authority of the importing country to justify the product's eligibility for entry and/or its entitlement to preferential treatment. Guidelines for issuance of Certificates of Origin by chambers of commerce globally are issued by the International Chamber of Commerce.
The ATA Carnet, often referred to as the "Passport for goods", is an international customs document that permits the tax-free and duty-free temporary export and import of nonperishable goods for up to one year. It consists of unified customs declaration forms which are prepared ready to use at every border crossing point. It is a globally accepted guarantee for customs duties and taxes which can replace the security deposit required by each customs authority. It can be used in multiple countries in multiple trips up to its one-year validity. The acronym ATA is a combination of French and English terms "Admission Temporaire/Temporary Admission." The ATA carnet is now the document most widely used by the business community for international operations involving temporary admission of goods.
The ASEAN–India Free Trade Area (AIFTA) is a free trade area among the ten member states of the Association of Southeast Asian Nations (ASEAN) and India. The initial framework agreement was signed on 8 October 2003 in Bali, Indonesia. and the final agreement was on 13 August 2009. The free trade area came into effect on 1 January 2010. India hosted the latest ASEAN-India Commemorative Summit in New Delhi on 26 January 2018. In the financial year 2017–18, Indo-ASEAN bilateral trade grew by almost 14% to reach US$81.3 billion. India's imports from ASEAN were valued at US$47.13 billion while its exports to ASEAN stood at US$34.2 billion.
European Union–Iran relations are the bilateral relations between Iran and the European Union (EU). The EU is Iran's largest trading partner, along with China and the United Arab Emirates. Trade with Iran is subject to the general EU import regime and the EU supports the goal of Iranian accession to the World Trade Organization (WTO). The EU has accused and criticized Iran for human rights violations, which led to diplomatic tensions, but both sides aim at improving and normalizing relations.
Iran is an energy superpower and the petroleum industry in Iran plays an important part in it. In 2004, Iran produced 5.1 percent of the world's total crude oil, which generated revenues of US$25 billion to US$30 billion and was the country's primary source of foreign currency. At 2006 levels of production, oil proceeds represented about 18.7% of gross domestic product (GDP). However, the importance of the hydrocarbon sector to Iran's economy has been far greater. The oil and gas industry has been the engine of economic growth, directly affecting public development projects, the government's annual budget, and most foreign exchange sources.
Since the end of apartheid foreign trade in South Africa has increased, following the lifting of several sanctions and boycotts which were imposed as a means of ending apartheid.
A resistance economy, also known as a resistive economy is an economy that tries to circumvent sanctions imposed on the country or region. This can involve increasing resilience by substituting local inputs for imported inputs, the smuggling of goods and an increase in barter trade. A country may even attempt to turn these pressures into opportunities. In some ways sanctioned economies bear some resemblance to an economy on a war or emergency footing.
The Arab League boycott of Israel is a strategy adopted by the Arab League and its member states to boycott economic and other relations between Arabs and the Arab states and Israel and specifically stopping all trade with Israel which adds to that country's economic and military strength. A secondary boycott was later imposed, to boycott non-Israeli companies that do business with Israel, and later a tertiary boycott involved the blacklisting of firms that do business with other companies that do business with Israel.
