International Commerce
International commerce is trade between companies in different countries, or trade between different countries. To help facilitate international buying and selling among countries, a variety of national and local government agencies have been set up, including the International Chamber of Commerce (ICC) and the World Trade Organization (WTO), even though there is a distinction between commerce and trade. International commerce is technically different from international trade, only in that commerce generally refers to buying and selling goods and services, as opposed to exchanging them. International commerce is trade between companies in different countries, or trade between different countries. With businesses increasingly globalizing, international trade and commerce has grown more and more popular, and has allowed companies in less densely populated regions to compete against those based in more densely populated regions.
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What Is International Commerce?
International commerce is trade between companies in different countries, or trade between different countries.
Understanding International Commerce
International commerce is the buying and selling of goods between sovereign nations.
International commerce allows countries to take advantage of competitive advantages in certain areas, while diminishing disadvantages in other areas. To help facilitate international buying and selling among countries, a variety of national and local government agencies have been set up, including the International Chamber of Commerce (ICC) and the World Trade Organization (WTO), even though there is a distinction between commerce and trade.
International Commerce vs. International Trade
International commerce is technically different from international trade, only in that commerce generally refers to buying and selling goods and services, as opposed to exchanging them. With businesses increasingly globalizing, international trade and commerce has grown more and more popular, and has allowed companies in less densely populated regions to compete against those based in more densely populated regions.
Related terms:
Chamber of Commerce
A chamber of commerce is an association or network of businesspeople designed to promote and protect the interests of its members. read more
Commerce
Commerce refers to the exchange of goods, services, or something of value between businesses or entities. read more
Competitive Advantage
Competitive advantage refers to factors that allow a company to produce goods or services better or more cheaply than its rivals. read more
Demand Guarantee
A demand guarantee is a form of protection for a contract that provides payment if one of the parties does not meet its obligations. read more
Depression
An economic depression is a steep and sustained drop in economic activity featuring high unemployment and negative GDP growth. read more
Geographical Labor Mobility
Geographical labor mobility refers to workers' ability to relocate in order to find employment in their field of work. read more
International Chamber of Commerce (ICC)
The International Chamber of Commerce is the largest global business organization representing over 130 countries. read more
Recession
A recession is a significant decline in activity across the economy lasting longer than a few months. read more
What Is Trade?
A basic economic concept that involves multiple parties participating in the voluntary negotiation. read more
World Trade Organization (WTO)
The World Trade Organization is an international institution that oversees the rules governing global trade. read more