India, called “the world’s largest democracy,” is one of the fastest developing countries globally, experiencing rapid economic development. With its current economic growth, India is believed to be the most populous country in the world with a young population and the third-largest economy in the world by 2030. India is a prospective market; thus, imports …
When we decide to import commodities, we also need to determine how we will import them – by air, rail, or maybe by road? The following article will present the most popular way of transporting products, namely maritime transport. What is maritime transport? Maritime transport (ocean transport) is a term for large loads of cargo …
A number of so-called special economic zones (SEZ) have been established around the globe. Each of them constitutes an administratively separate part of a country, where business can be conducted on preferential terms. We present special economic zones of the world. Special economic zones – origins Special economic zones usually cover the areas of important …
A new intermodal route from Australia to Europe is in the making. The route will be a part of the New International Land-Sea Trade Corridor (ILSTC), a trade and multimodal transport corridor jointly built by the western Chinese provinces and the ASEAN countries. Now, Europe is also engaged in the establishment of the ILSTC. What …
Since 2018, when the Turkish lira plunged in value, import from Turkey became even more profitable. In 2018 US imports from Turkey reached 10.3bn USD. In 2019 alone the value of imports from Turkey to the EU amounted to 69.8bn EUR. Some of the most often imported products included transport equipment, textile articles, machinery, agricultural …
Vietnam is one of the dynamically developing Southeast Asian countries and an important business partner for many western countries. It may be noted that Vietnam is gradually taking over some of the orders for products previously imported from China. Vietnam’s main exports to Europe and America are electronic products, electric machinery and equipment, footwear, textiles …
The ISF 10+2 (Importer Security Filing) is a US Customs and Border Protection rule that obliges the importer to submit information about cargo imported by sea to the United States. In theory, the importer is responsible for the ISF 10+2 document, but in practice, this issue is in the exporter’s hands. As an effect of …
Even though the container revolution, which depended on standardization of container dimension, began a new era in the world of global logistics, it did not solve all the problems faced by shippers. There are situations in which cargo is so big and bulky that it is not easy to fit it into a standardized container. …
Notwithstanding experience in import of goods, a choice of a suitable Incoterms 2020 rule can be a challenge. It turns out that this decision has a considerable impact not only on the rights and duties of a buyer and a seller but also on incurred expenses. This article focuses on which terms are used the …
Read moreIncoterms 2020 and sea transport – which one to choose?
According to the European Commission’s website, in 2019 Turkey was EU’s 5th largest trading partner. Moreover, Turkey’s main export markets are the EU – Germany, France, Italy, Spain, etc. (42.4%), the UK, Iraq, the USA, and Israel. Turkey’s exports to the EU are mostly transport equipment and textile articles. Its main USA exports in 2018 …