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What is international trade?
International trade is the fair and deliberate exchange of goods and services across national boundaries.
international trade VS. foreign trade
International trade
generally refers to the exchange of goods and services among different countries. It is the aggregate of the import and export of all the nations.
Foreign trade
refers to the exchange of goods and services of one country (region) with another country (region). It comprises two parts - import and export.
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Responsibilities and expenses
Responsibilities include:
Carrying out customs formalities
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