1.1. Th e impact of macroeconomic trends on international trade 5
Table of Contents
Preface ... 9
Chapter 1. International trade in the global economy ...11
1.1. Th e impact of macroeconomic trends on international trade ...11
1.2. Major trends in international trade ...15
1.3. Infl uence of international trade on the national economy: macroeconomic approach ...22
1.4. International institutions and organizations in the world trade system ...29
Chapter 2. International trade policy ...37
2.1. Th e dominant models of foreign trade policy ...37
2.2. Instruments and tools of foreign trade policy ...40
2.3. Customs policy and its functions ...45
2.4. Customs policy tools ...48
2.5. Calculation elements of duty ...52
Chapter 3. EU regulations on the foreign trade of member states ...57
3.1. Framework and principles of EU trade policy ...57
3.2. EU principles for the internal market ...62
3.3. Common trade policy ...66
3.4. Customs policy of the European Union ...72
Chapter 4. Marketing strategies on international markets ...83
4.1. Factors aff ecting internationalization of enterprises ...83
4.2. Th e concept of a strategy ...89
4.3. Models of internationalization ...91
4.4. Segmentation in international markets ...97
4.5. Estimation of market attractiveness and target market choice ...101
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Chapter 5.
Th e way of doing business with foreign partners ...109
5.1. Organizing export/import activities ...109
5.2. Indirect trade ...110
5.3. Direct trade ...117
5.4. Non-equity foreign market entry modes: licensing and franchising ...118
5.5. Foreign market equity entry modes: joint ventures and strategic alliances ...121
5.6. Wholly owned subsidiary as a foreign market entry mode ...124
Chapter 6. Negotiations and their determinants in international business ...126
6.1. Defi nition and elements of negotiations ...126
6.2. Communication in negotiations ...129
6.3. Stages of negotiations ...132
6.4. Negotiating team ...133
6.5. Types of negotiations and techniques used ...135
6.6. Culture as a factor infl uencing the negotiations in international business ...139
6.7. Th e impact of cultural diff erences on negotiations ...148
Chapter 7. International trade transaction ...152
7.1. Trade on international market ...152
7.2. Specifi c nature of international trade transactions ...154
7.3. Phases of trade transactions ...157
7.4. International trade contract and commercial off er ...158
Chapter 8. Documents in international trade ...167
8.1. Commercial documents ...168
8.2. Shipping documents ...169
8.3. Customs documents ...173
8.4. Insurance and fi nancial documents ...175
8.5. Auxiliary documents ...176
Chapter 9. Usages and practices in international trade ...181
9.1. International customs of trade ...181
9.2. Incoterms® 2010 rules ...184
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9.3. Th e interpretation of Incoterms® 2010 rules ...185
9.4. Classifi cation of Incoterms® 2010 rules ...193
9.5. Selected obligations of parties to a sale contract under Incoterms® 2010 ...195
Chapter 10. Financing of foreign trade ...202
10.1. A classifi cation of the forms of foreign trade fi nancing ...202
10.2. Financing of export transactions ...203
10.3. Commercial credits in foreign trade...203
10.4. Short-term bank credits for exporters and importers ...206
10.5. Export factoring ...208
10.6. Eurocredits as a source of fi nancing foreign trade operations ...209
10.7. Countries’ support for export credits ...210
10.8 Medium- and long-term bank credits for foreign trade fi nancing ...211
Chapter 11. Transaction settlement in international trade ...214
11.1. Th e infrastructure for international settlements...214
11.2. Classifi cation of international settlements ...215
11.3. Unconditional forms of payment in foreign transactions ...217
11.4. Cheques in international trade ...219
11.5. Bills of exchange in international trade ...220
11.6. Conditional methods of settlement ...222
Chapter 12. Transport services in international trade ...228
12.1. Defi nition of transport and transport modes ...228
12.2. Maritime transport ...232
12.3. Airway transport ...235
12.4. Railway Transport ...238
12.5. Road Transport ...240
12.6. Intermodal transport ...244
Chapter 13. Cooperation with carriers in the course of commercial transactions ...246
13.1. General characteristics of the transport process ...246
13.2. Maritime transport process ...248
13.3. Air transport process ...250
13.4. Railway transport process ...252
13.5. Road transport process...255
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