2.2.1. the Importance of International Trade, Economic Integration and Global Markets to Uk Business Organisations

International trade is the exchange of goods and services between countries. The exchange includes import that the countries buy goods or services from other countries outside and export that the countries sell goods or services overseas. Trading of goods is available with clothes, food, stocks, wines, jewellery and many more products. Trading of services is also done like banking, consulting, tourism, or transportation. The international trade play an important role in the development of a country’s economy in general and in the development of an individual organisation in particular. Essentially, international trade help a country become richer because rather than the country tries to produce every products which encompass products with no comparative and absolute advantages by itself, it could specialise some particular products which have the absolute and comparative advantages. Many countries are gifted with natural resources; therefore, they can manufacture products with cheaper production cost and sell at cheaper prices. International trade allows countries and customers have more chances to expose services and goods that are not available in their own country. There are many benefits which international trade can bring to organisations. They are as follow:
- It helps organisations expand its competitiveness and market shares in both domestic market and foreign markets.
- Organisation will be provided new segments leading to more potential customers.  
- The remission of taxes helps organisations reduce expend.
- Organisations can take full advantages of their competitive abilities.
- Exports will increase sales and profits of organisations.
- International trade can help to reduce dependence of organisations on geographical markets when they want to extend portfolios.
- International trade is the best way to help organisations continue their operations whenever the domestic market is saturate.
- It has a part in stabilizing seasonal market...