The Effects Of The Global Trade Agreement

We live in a world that is increasingly getting connected. In such a world, trade agreements are bound to expand internationally, and to think and act otherwise would be downright stupid.

These global trade agreements, as such, are either bilateral or multilateral understanding between two or multiple countries and govern the trade policies between them. These agreements have a massive impact on worldwide trade and investments and are one of the major causes responsible for shaping business relationships across the globe. And while such agreements might not affect directly affect the place where you live or operate, being aware of the current trade agreements can definitely uncover numerous opportunities.

Forming up opinions is up to you; we do not intend to initiate an argument over how good or how bad these global trade agreements are. This article aims to get you familiarized with such agreements and tell if your supply chain could be affected or not.

While a few countries have settled upon free trade agreements and are in the process of widening them, a number of other nations have formed common markets and unions; this form of development can a have a thorough effect on small-scale businesses.

Two of the most common agreements are the Trans-Pacific Partnership (TPP) between Australia, New Zealand, Singapore, Canada, Brunei, Peru, Mexico, Chile, Malaysia and Japan, and the North American Free Trade Agreement (NAFTA) between Canada, United States and Mexico.

Now, how such agreements impact your local business’s supply chain depends on a simple fact; whether your business is an importer, exporter or neither.

Scenario 1: You neither import nor export

It’s fairly easy to decide whether you are an importer or not, right? I understand that you do not directly source products from a foreign supplier, and technically speaking, that doesn’t make you an importer. However, trade agreements can still impact you. Your suppliers are directly affected by such regulations, and this vulnerability can affect your supply chain.

Keep the distinction in mind.

Scenario 2: You identify yourself as an importer

Owing to the low cost manufacturing in some countries, many small scale suppliers are able to compete with global giants.

With a trade agreement between two countries, most of the times, the country with lower labour costs benefits when the trade tariffs are lowered or eliminated. With trade agreements, importers usually get to source low-cost goods and it allows for the unrestricted movement of such low-cost goods through higher cost partner nation.

In case, such an agreement is dissolved, an importer would inevitably face a higher cost of goods and thus look for cheaper sourcing options, decrease their operational costs, and ultimately increase the prices, which would be borne by the customers, of course.

Scenario 3: You are an exporter

This even counts if you sell products that another firm exports because at some point or other, taxes would be levied on your sold goods. So how does it affect you? Your customers end up paying higher amounts for your products.

With a trade agreement in place between the country where the product originates and the receiving country, the very same products would move through the receiving nation freely. In such cases, you’d definitely want to keep such an agreement intact and leverage this competitive advantage you have in this particular country bound by trade regulations.

As a small or a medium sized business, it is therefore important for you to identify where your business lies with respect to global trade agreements.

Expand Business With Portugal

Globalization and easily accessible channels of communication have stimulated international business. With increased trade and investments between countries, the need for translation services is escalating. Proper translation helps companies reach their full potential. An effective translation service results in pointed communication towards the target audience and helps stakeholders to work together efficiently on a project.

India and Portugal Ties: Today, India and Portugal share a warm and close relationship. The visit of the Portuguese President, Anibal Cavaco Silva to India in 2007 gave a huge boost to the bilateral relationship. The two countries are now looking to enhance trade and investments with each other. New partnerships between the two countries are being established for mutual benefits. In such a scenario, there is an increased need for a Portuguese translator.

Portuguese Language: The Portuguese language is currently spoken in several countries. After English and Spanish, it is one of the most common languages. With the build-up of international trade agreements, the demand for Portuguese translators is growing.

A good Portuguese translation service will help customers convey their thoughts and ideas and will encourage successful business understanding. As several European countries look at reaching their full marketing potential, Portuguese translators are using their bilingual skills to setup trade agreements.

Growing Bilateral Trade: The market mood between India and Portugal is now upbeat. Several Indian companies have made strong acquisitions in the Portuguese market. The presence of Portuguese business in several sectors across India is also a reality. Major industries are looking to diversify their export markets and are investing heavily in India.

This is time for not only major investments, but also time for small start-ups which are looking to internationalize their market. Portuguese groups are investing in several fields in India like medicine, integrated telecommunications, renewable energy, infrastructure, agro processing etc. Such a scenario requires efficient and quick translation services.

What is Efficient translation: The requirement for Portuguese translators is increasing steadily. A good translation service will present an accurate communication of the customer’s ideas and documents. An efficient translation will result in a boost to the business.

Here are a few pointers:
- Translation should be accurate.
- Translators should be bilingual subject experts.
- Translators should be well versed in business speak.
- Technical knowledge is a must.
- Trade terminology should be translated correctly.
- Cultural understanding of the two countries is essential.

Translation of specialized documents in various fields is done by technically competent experts. These dependable and experienced translators will help your business expand globally.

If you have a business proposal with Portugal, then, Many Translation Services will take care of all your Portuguese Translation requirements, giving you quality translations.

I am an Expert in the medium of translation and language services. I have working knowledge in documents translation, Translate from English to German, Portuguese Translator and provide Multilingual E-mail Support.I am passionate in Localizing global brands to reach the target audience in the most efficient way.

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