Finance:Trade mission
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Trade mission is a tool for governments to promote and market exports. It is smaller in scale compared to trade fairs and can be useful when firms are trying to enter a foreign market.[1]
Considerations
Several factors are needed to be considered whenever a business executive is trying to join a trade mission.[2] Clearly stating the goal of trade mission before the departure is important. Choosing the target industry and the participants is a crucial aspect. Executives have to analyze the costs and possible future benefits of trade mission. Careful evaluation of the agenda is required.
Controversy regarding Trade Mission
Canada
Canada has conducted regular trade missions since 1994, often led by the Prime Minister. The Canadian government claims these missions generate tens of billions of dollars in business deals. While Canadian exports and imports are higher than average to countries with which it has trade missions, the missions do not seem to have caused the increase and have negative or mainly insignificant effects.[3]
UK
See also
- Globalization
- International trade
- International business
- International politics
References
- ↑ Seringhaus, F. H. Rolf (1989). "Trade Missions in Exporting: State of the Art". Management International Review 29 (2): 5–16. ISSN 0025-181X. https://www.jstor.org/stable/40227922.
- ↑ "Understanding Trade Missions". http://www.going-global.com/articles/understanding_trade_missions.htm.
- ↑ Head, Keith; Ries, John (2010). "Do trade missions increase trade?". Canadian Journal of Economics 43 (3): 754–775. doi:10.1111/j.1540-5982.2010.01593.x.
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