How Can I Gain Advantage For Company Or Country In International Trade?

In order for a company or country to excel in international trade, it must trade on a commodity or service where it has a competitive advantage. If certain commodities are made in surplus, then it is traded with another country. For example, Scotland is known for its famous scotch whisky, France is known for its quality wine while Switzerland is known for chocolates and quartz watches.

Countries which are rich in raw materials export such commodities while countries which are industrially developed export finished goods. International trade is not just restricted to commodities; it has an impact in the service sector too. Today we are seeing a paradigm shift of work-force as people from countries like India, China and Philippines partner with countries like USA and UK for doing specialized jobs.

Every company or country needs to show to the trading partner that it has the talent, mettle and manpower to supply commodities or service which is quality bound as well as cost-effective. For instance, countries like India are preferred countries for outsourcing because they have the ability to provide services at a cost effective rate.

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