One of the benefits of international trade is that countries can use their resources - land, labor, capital and entrepreneurship - in a manner that promotes efficiency. Countries can limit themselves to those products and services that they can produce more efficiently, and trade them for other goods and services that they do not produce. This results in wealthier countries and a wealthier world. Through specialization and trade, a larger variety of goods are available for consumers to choose from, and prices are more affordable.
As trade has become of greater importance to the world economy, international organizations have been established to assure cooperation regarding trade matters. Major organizations include: the World Trade Organization, the International Monetary Fund, the World Bank, the Bank for International Settlements, the Group of eight, the European Union, and the North American Free Trade Agreement. For additional organizations concerned with international economic development, see the International Organizations section of this guide.
World Trade Organization
The World Trade Organization (WTO) was established January 1, 1995. It is the
only international organization that deals with the rules of trade between nations. The WTO
was created by the Uruguay Round of negotiations. There are 144 member countries that belong
to the WTO.
International Monetary Fund (IMF)
The International Monetary Fund as established in 1944 by the United Nations
Monetary and Financial Conference at Bretton Woods, New Hampshire. Membership of the IMF
includes 183 countries. Among the goals of the IMF are: the promotion of international
monetary cooperation; an orderly means of monetary exchange; and facilitation of the
expansion and growth of international trade.
The World Bank was founded in 1944 at the Bretton Woods, New Hampshire Monetary
and Financial Conference. It is dedicated to helping the world's poorest countries by
providing the financial resources for those countries to improve their economy and the
living environment of their people.
Bank for International Settlements (BIS)
The Bank for International Settlements ) is located in Basel, Switzerland. It was
established in 1930 to promote cooperation among the central banks and other financial
agencies of the world. The Bank's Committee on International Banking Supervision establishes
financial and performance guidelines for the world's commercial banks.
Group of Eight (G8)
http://www.g7.utoronto.ca/ (G8 Information Centre)
http://en.g8russia.ru/ (Official Web
site of the G8 presidency of the Russian Federation
The Group of Eight , originally the G6, was established in 1975 as a forum for
world leaders to discuss pertinent macroeconomic and monetary issues. The purpose of the
group was to fill the gap in the management of the monetary system after the failure of the
Bretton Woods Agreement in 1971.
European Union (EU)
http://europa.eu/ (Europa - The European Union On-Line)
The European Union is the result of efforts that began in 1951. The purpose of
the organization is to promote economic and social progress. In 1993, it established a single
market for trade, and in 1999, a single currency was created. The single market established
one set of rules for traders to market their goods and services.
North American Free Trade Agreement (NAFTA)
(U.S. Office of NAFTA and Inter-American Affairs)
The North American Free Trade Agreement eliminated trade barriers and facilitated
the movement of goods and services for the United States, Canada and Mexico. It was also
intended to promote fair competition and increase investment opportunities.
Baker, James Calvin. Financing International Trade.
Westport, CT: Praeger, 2003. 199 p.
LC Call Number: HG3881 .B2533 2003
LC Catalog Record: 2003058002
Explains the international trade finance system of financial institutions; public
and private trade credit guarantee and insurance agencies; and other public and private
associations and firms that facilitate international trade and its financing. Emphasis is
on U.S. institutions, but this work does discuss major export credit agencies operating
around the world. Contains a number of tables and figures, appendices, a selected
bibliography, and an index.
Ball, Donald A., et al. International Business: The Challenge of Global Competition.
Boston: McGraw-Hill/Irwin, 2006. 10th edition, 693 p.
LC Call Number: HD62.4 .B34 2006
LC Catalog Record: 2004061142
This attractive text is divided into four sections: The Nature of International
Business; Cooperation Among Nations; International Environmental Forces; and The
Organizational Environment. It includes chapters dealing with international trade and
investment; export and import; international marketing; and supply chain management. Has
interesting maps, figures and tables; a glossary of business terms; and a name, company and
Caves, Richard E., Jeffrey A. Frankel, and Ronald W. Jones. World Trade and
Payments: An Introduction. Boston: Pearson Education, 2007. 10th edition, 634p.
LC Call Number: HF1379 .C38 2007
LC Catalog Record: 2006013259
This work is updated frequently. Discusses a number of topics including: commodity
trade, trade patterns, income distribution, commercial policy, trade controls, balance of
payments, foreign exchange market, and international financial markets. Includes
informational supplements for selected chapters and an index.
Gianturco, Delio E. Export Credit Agencies: The Unsung Giants of International Trade
and Finance. Westport, CT: Quorum Books, 2001. 198 p.
LC Call Number: HG3753 .G48 2001
LC Catalog Record: 00062773
Discussion of the world's export credit agencies (ECAs) which are highly
specialized institutions of international finance that cover billions of dollars of exports
annually. Although few in number, ECAs have made an extensive contribution to trade and
development, globalization, and a healthy world economy. ECA funding, loans, guarantees and
insurance have actively contributed to overseas development by giving support to exporters
throughout the world. This work includes a history of ECAs and explains the various ways
that they are organized and operate. Has several appendices, including a glossary of
technical terms; a bibliography; and an index.
A Handbook of World Trade: A Strategic Guide to Trading Internationally, edited
by Jonathan Reuvid. Sterling, VA: Kogan Page, 2004. 2nd edition, 466 p.
LC Call Number: HF1379 .H366 2004
LC Catalog Record: 2003026740
Table of Contents
As stated in the introduction, the two objectives of this work are to offer
practical business guidance to companies seeking to expand their international trading
activities and to provide a comprehensive background briefing on the evolution of the World
Trade Organization (WTO) and its leading role in the development of freer global markets
within the framework of WTO rules. It is a collection of essays written by knowledgeable
writers and is arranged in five parts according to subjects relating to international trade.
Has an attractive format, a number of useful appendices and an index.
Hinkelman, Edward G. Dictionary of International Trade: Handbook of the
Global Trade Community Includes 19 Key Appendices. Novato, CA: World Trade Press,
2002. 5th edition, 608 p.
LC Call Number: HF1373 .H55 2002
LC Catalog Record: 2002071317
In addition to being an extensive dictionary, includes a list of acronyms and
abbreviations used in international trade; a list of ISO (International Organization for
Standardization) Country Codes; international access and dialing codes; a list of currencies
of the world; business entities worldwide; a list of weights and measures; maps of the world;
illustrated guides to ocean freight and air freight containers; guide to Incoterms 2000; guide
to letters of credit; computer terms; a bibliography of resources for international trade;
web resources; guide to trade documents; key words used in international trade in eight
languages; world airports by IATA (International Air Transport Association) Code; and world
airports by airport.
Johnson, Thomas E. Export/Import Procedures and Documentation. New York:
AMACOM, 2002. 4th edition, 583 p.
LC Call Number: HF1416.5 .J64 2002
LC Catalog Record: 2002023610
Table of Contents
Takes complex foreign trade rules, regulations, procedures, and practices and
includes them in a helpful volume explaining the export/import process in detail. This work
will be helpful to international trade beginners and a reference resource for more
experienced exporters and importers. Primarily intended for manufacturers exporting or
importing goods, it can also be useful to freight forwarders, customs brokers, transportation
carriers and others. Contains numerous explanatory figures; useful appendices; a glossary of
international trade terms; and a detailed index.
Nelson, Carl A. Import/ Export: How to Get Started in International Trade. New
York: McGraw Hill, 2000. 3rd edition, 339 p.
LC Call Number: HF1416 .N45 2000
LC Catalog Record: 00029204
Table of Contents
Publisher-supplied Biographical Information
Explains in basic terms the business of international trade and its transactions.
Gives useful information on importing and exporting for the novice as well as the experienced
trader. Includes a chapter on cybertrading. Contains a number of helpful tables and figures,
sample forms, several useful appendices, a glossary of trading terms, and an index.
Oatley, Thomas. International Political Economy: Interests and Institutions in the
Global Economy. New York: Pearson/Longman, 2004. 441 p.
LC Call Number: HF1359 .O248 2004
LC Catalog Record: 2002043853
Contains chapters on: International Political Economy; The Multilateral Trade
System; The Domestic Politics of Trade Policy; Trade and Economic Development in the South;
Multinational Corporations in the World Economy; The International Monetary System; and
Domestic Politics and Exchange Rate Policy. At the end of each chapter, there are key terms
used in the chapter, a list of web links, and suggestions for further reading. A glossary
of terms applicable to the book's subject, an extensive bibliography, and an index are also
Salvatore, Dominick. International Economics. New York: J. Wiley, 2004.
8th edition, 826 p.
LC Call Number: HF1411 .S239 2004
LC Catalog Record: 2003272008
Table of Contents
The text is divided into four parts: International Trade Theory; International
Trade Policy; Balance of Payments, Foreign Markets, and Exchange Rates; and Open-Economy
Macroeconomics and the International Monetary System. Each chapter contains a number of
case studies, a chapter summary, key terms, an appendix, a selected bibliography and a list
of internet addresses. Also includes, a glossary of key terms and name and subject
Seyoum, Belay. Export-Import Theory, Practices, and Procedures. New York:
International Business Press, 2000. 485 p.
LC Call Number: HF1414.4 .S49 2000
LC Catalog Record: 99036499
The introduction to this work gives a brief history of international
trade. Discusses the role of exports and imports in the global economy, trade
regulatory and policy
issues, international trade operations, the role of logistics and transportation,
intellectual property and counter trade, and international agreements affecting
trade. Has chapter
summaries, a number of tables and illustrations, appendices, references (including
world wide web resources) and an index.
Weiss, Kenneth D. Building an Import/Export Business. New York: J. Wiley, 2002.
3rd edition, 300 p.
LC Call Number: HF1416 .W43 2002
LC Catalog Record: 2001046734
Table of Contents
Publisher-supplied Biographical Information
Clear explanation of what is involved in an import/export business. Intended for
the novice with some business background. Explains setting up a business, choosing products
and suppliers, marketing, export credit, methods of payment, credit insurance, packing and
shipping, documents needed for international trade, trade regulation, trade agreements and
sources of information. Has useful tables, lists, appendices and an index.
This section includes links to commercial Internet resources covering the area of global
business and international trade. Each company and trade resource link provides a number of
different and useful services, and can also serve as good sources of information. Some of the
sites listed provide access to publications and articles that may prove to be very beneficial
for both research and commercial purposes. However, many of these sites do have fees and
other user costs associated with using their services, as well as in obtaining access to
various online publications.
An online marketplace for global trade. A destination for buyers
and sellers to find trade opportunities and promote their businesses online.
This company's web site contains
over 1,000,000 registered members from more than 200 countries. The site also
allows users to browse company information and trade leads by 27 industry categories
and 700 product
Asia Trading Online
An online trade directory covering businesses, products, and services
in Thailand and Asia. The web site includes publishing resources, as well as
trade and general commercial
information on doing business in Thailand. Also included is an online trade
post for buyers and sellers.
A resource providing international business and trade information for Asia and
countries outside of Asia. The site has a databank with over 150 thousands global buyers'
information. Other global trade services include: trade links, online country marketplaces,
a search engine for locating businesses in Asia, Trade InfoCenter, business updates and stock
information, trade shows and exhibits, online products, product searching options, product
updates and announcements, and product surplus information.
A business portal site providing over 100 country resource pages, export bulletin
board, company directory guide, business news section with the current international news,
search engines, directory to international trade sites, directory of international business,
directory of European airports, directory of European banks, directory of trade organizations,
directory of stock exchanges, and freight & shipping information.
Commodity Trader.net is a free information provider dedicated to
commodity traders, currency traders, and stock investors. The web site includes
stock market, futures,
and foreign exchange charts, as well as an updated currency exchange ticker.
Commodity Trader.net also provides up-to-the-minute news in all financial markets,
links to additional
online resources, trader training, and an online forum for foreign exchange
CountryWatch provides country specific geopolitical information on over 190
countries worldwide. The site includes country data, economic and financial forecasts,
global news update, wire service and maps. Additional services are provided for authorized
Economist.com Country Briefings
The Economist Country Briefings web site provides concise and authoritative
country overviews. The briefing include news, country profiles, forecasts, statistics
and valuable country information.
European business community for news, tenders, economic data, fact
sheets, web links and documents, categorized into EU topic sectors. The web
site provides access to
country reports, online directories and electronic forums.
Global Board of Trade
Fully integrated end-to-end, Business-to-Business trade solution marketplace using
licensed technology to integrate trade transaction document, secured encrypted transmission
and authentication, traditional trade finance mechanisms, and shipping/logistics services.
Services include online board auctions, ability to search trade data by Keyword, HTS Code,
Country and Lead Type. The Exchange also allows users to create static priced product
catalogs that are integrated into GBOT a transactional manager software program. In addition,
users can create restricted catalogs or "Private Marketplaces" for use by their existing
Global Trade Center
TRADEZONE.COM provides international trade services for manufacturers, importers
exporters, trade service businesses and opportunity seekers. The site provides access to
international trade business opportunities, free import export trade leads, and includes
a trade bulletin board, traders web sites, as wells as web site advertising services.
IMEX Exchange, Inc.
The IMEX Exchange is dedicated to promoting international trade on the Internet,
and through international trade, cooperation and understanding among nations and people.
IMEX Exchange helps international focused companies, organizations, and countries develop
and implement their Internet strategies through web page design, marketing, networking, and
education. IMEX assists companies and organizations develop and implement Internet
Internet Guide to Export Trade Leads, Trade Information Center - U.S. Dept. of
An Internet guide produced by the U.S. Department of Commerce, Trade
Information Center which provides an extensive list of export trade lead web
sites. The list includes over
130 commercial Internet sites useful for trade information, online access to
global trade exchanges, trade leads, and other international trade resources.
International Business Forum
The International Business Forum provides information about business
opportunities in the international marketplace. It is intended for companies
wishing to export or expand
into foreign markets as well as for those interested to acquire products and
services from other countries. This web site provides access to directories,
business resources, business
opportunities, business associations, business education and advertising information
covering the globe. Other resources include: search engine, email, and additional
JP Morgan Chase Vastera
Vastera provides fully-integrated solutions for global trade management. Its
focus on country-specific trade regulations and compliance, as well as its portfolio. Includes
access to: Regulatory Updates - global trade regulatory and policy changes;
TradePrism.com - online global trade portal; and other international trade management
solution products and services.
Price Waterhouse Coopers Global Homepage
Price Waterhouse Coopers' Global Homepage provides access to a number
of resources which include links to industry marketplaces covering 24 industries,
link, News, Publications, Global CEO Survey, European Economic Outlook Report,
and Countries Online with links and resources to over 95 countries. Other useful
resources and contact
information are also available on the web site.
World Trade 100 Magazine
This web site is an online version of World Trade 100 Magazine intended
for users involved in shipping and sourcing worldwide. The web site includes
news articles, industry
news, regional news, searchable archives, resource guides and an online bookstore.
Additional works on this topic in the Library of Congress may be identified
by searching the Online Catalog under appropriate Library of Congress subject headings. Choose the
topics you wish to search from the following list of Library of Congress subject headings to link directly to the
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