It is a known fact that economic success for most nations is dependent on trade relationships with other nations. This course will help you understand the historic trade agreements and institutions created to improve consumers’ welfare by lowering trade barriers. Regional economic integration, the agreements between countries reducing barriers to the free flow of goods and services will be explored, alongside the dynamic effects of such integration to growth in the market. You will discover the generalised system of preferences, a non-contractual instrument by which industrialised countries unilaterally and non-reciprocity extend tariff concessions to developing countries.

First, you will be introduced to the highest decision-making body of the United Nations Conference on Trade and Development (UNCTAD) - the quadrennial conference - where member states make assessments of current trade and development issues and policy options. Then you will discuss the Bretton Woods Agreement, which was negotiated to establish a new international monetary system to develop an efficient exchange, prevent competitive devaluations and promote global economic growth. You will understand the importance of exports and imports for almost all countries, the benefits of international trade and the value of regulation to this process. You will also be introduced to the technicalities of a letter of undertaking and a foreigh letter of credit and how they pertain to banks.

Next, you will discover the role of the International Monetary Fund (IMF) in terms of foreign trade. You will understand how the IMF aims to monitor exchange rates and identify nations that need monetary support as well as how it seeks to promote global economic growth, financial stability and encourage international trade. Finally, you will study trade-related investment measures, agreements, export promotion schemes and the agreement on textiles and clothing. Are you looking to take your trade and investment skills to the next level? This course will be of interest to students of business studies and foreign exchange, those in international finance or those who want to elevate their foreign investment expertise. Why wait? Start this course today and become an expert in foreign trade and foreign direct investments.