Good day Anna! Indirect trade like Entrepot has been growing more than three times faster than world trade as a whole. There are more than thirty countries that are involved in a significant amount of indirect trade. Macao SAR, Cyprus, Fiji, Senegal, Jordan, Armenia, Seychelles, Honduras, Benin, Montserrat, and St. Lucia are some of the other prominent entrepôts through which indirect trade takes place. This entrepot trade provides the opportunity to trade to many inaccessible country which boost the globalization all around the world.
Good day Anna! Entrepot trade refers to the practice of re-exporting goods with or without processing or re-packaging them again. This type of trade occurs at duty-free ports, where these goods do not have additional import or export duties, or taxes, placed upon them. These ports were particularly important during the period of mercantilism in the Middle Ages and shortly afterward, when they were used to ship goods between Europe and its colonies and outposts in Asia and the Middle East. In mercantilism, a country's government was still the main regulator of the economy, and certain cities were designated as staple ports (which required merchants to unload their goods from ships at that port and trade them within a few days). Traders often did not want to travel along the entire trade route to sell their goods, so they deposited them in entrepots.
Hello Sarah! To my mind, some of the reasons may include: 1. Protection of domestic industries and to insulate them from competition of well-established firms from outside. This would be one of the most common reasons; 2. Imposition of quality standards especially when it comes to agricultural goods and other goods that is part of human consumption. For example, several years ago, USA imposed barriers on toys coming from China because of its lead content which could be harmful for little children; 3. By a long stretch, trying to get other states to comply with certain policy (this would be more of trade sanctions rather than trade barriers, but acts as a barrier nonetheless). An example of this would include the Iranian nuclear program and the trade barriers erected on companies trading with Iran.
Yes, but it’s only for exempted goods like books and unstitched fabric. If you are selling only unstitched cloth, VAT is not required.If you are selling any other goods then TIN number and documents of registration is mandatory. The company verifies all the documents, including bank details. Once your documents are verified you can start selling products by filling catalogue, price and stock.