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What are some effective ways to improve a country's competitiveness in international trade?

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Competitiveness in international trade is the ability of a country to produce and sell goods and services that meet the quality standards, prices, and preferences of global markets. It is crucial for a country's economic growth, employment, and living standards. However, achieving and maintaining competitiveness is not easy, as it depends on many factors, both internal and external. In this article, we will explore some effective ways to improve a country's competitiveness in international trade, based on the skill of import/export operations.

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1 Enhance productivity and innovation

One of the key drivers of competitiveness is productivity, which is the amount of output per unit of input. Productivity can be improved by investing in human capital, technology, infrastructure, and research and development. These factors can help a country produce more efficiently, reduce costs, and increase quality. Innovation is also essential for competitiveness, as it allows a country to create new or improved products and services that can meet the changing needs and preferences of global customers. Innovation can be fostered by encouraging entrepreneurship, creativity, and collaboration, as well as protecting intellectual property rights.

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Logan Coutinho

Gerente de SEO na Hot Topic | SEO
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Connecting with the public in the country you want to work in! As an example I will talk about Brazil, understanding what is culturally important for Brazilians, like football. The company will congratulate the champion team of the year, , through conventional media, speak in Portuguese, remember the date of death of the country's heroes, gain the trust of the country's population, calmly, for a few months, sponsoring something that is a national passion, by doing this, the door will open, then the game will be to talk about price, quality, what the company is a partner.

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Dr Olga Lazin

VICE PRESIDENT - PROFMEX CONSORTIUM FOR RESEARCH ON MEXICO
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One thing I found effective is Innovation Management and research as well as retention of Researchers who have expertise and experience abroad, especially in the United States, like myself.

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2 Diversify export markets and products

Another way to improve competitiveness is to diversify the export markets and products that a country sells to the world. This can help a country reduce its dependence on a few markets or products that may be vulnerable to shocks, such as demand fluctuations, price changes, or trade barriers. Diversifying export markets and products can also help a country access new opportunities, expand its customer base, and increase its bargaining power. To achieve this, a country needs to identify and target the markets and products that have high potential, low competition, and favorable conditions. It also needs to develop effective marketing and branding strategies, as well as establish strong trade relationships and networks.

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3 Improve trade facilitation and logistics

A third way to improve competitiveness is to improve the trade facilitation and logistics that enable the movement of goods and services across borders. Trade facilitation refers to the simplification, harmonization, and standardization of the procedures and regulations that govern international trade, such as customs clearance, documentation, inspection, and certification. Trade facilitation can help a country reduce the time, cost, and uncertainty of trading, as well as enhance transparency and compliance. Logistics refers to the planning, coordination, and execution of the transportation, storage, and distribution of goods and services. Logistics can help a country optimize the efficiency, reliability, and quality of its supply chains, as well as minimize the risks and environmental impacts of trading.

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4 Strengthen trade policy and institutions

A fourth way to improve competitiveness is to strengthen the trade policy and institutions that shape the rules and norms of international trade. Trade policy refers to the set of measures and strategies that a country adopts to promote and protect its trade interests, such as tariffs, quotas, subsidies, agreements, and disputes. Trade policy can help a country create a favorable and predictable environment for trading, as well as address the challenges and opportunities of globalization. Trade institutions refer to the organizations and mechanisms that facilitate and regulate international trade, such as the World Trade Organization, regional trade blocs, and bilateral trade deals. Trade institutions can help a country enhance its integration and cooperation with other countries, as well as resolve trade conflicts and disputes.

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Andrew Keable

APAC FDI Expert | Trade & Investment Strategy | Market Access | Capacity Building & Entrepreneurship
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In my capacity as Senior Advisor for The World Association of Investment Promotion Agencies (WAIPA) and as a consultant dedicated to supporting UN and multilateral economic development capacity programs in emerging markets my experience is clear that achieving heightened competitiveness on the international stage demands a transparent and comprehensive strategy. This entails a deliberate emphasis on transparent and consistent trade policies, alignment with global standards, strategic investments in trade infrastructure, and proactive engagement in regional and global trade agreements. Such a multifaceted approach is pivotal for securing not only economic growth but also positioning a nation for sustained prosperity.

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5 Develop trade skills and competencies

A fifth way to improve competitiveness is to develop the trade skills and competencies that are required for successful import/export operations. Trade skills and competencies refer to the knowledge, abilities, and attitudes that enable a country's businesses and workers to perform effectively and efficiently in international trade, such as market research, negotiation, communication, documentation, compliance, and risk management. Trade skills and competencies can help a country improve its performance and reputation in international trade, as well as adapt to the changing demands and expectations of global markets. Trade skills and competencies can be developed by providing quality education and training, as well as creating a culture of learning and improvement.

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6 Monitor and evaluate trade performance and impact

A sixth way to improve competitiveness is to monitor and evaluate the trade performance and impact of a country's import/export operations. Trade performance refers to the quantitative and qualitative indicators that measure the results and outcomes of international trade, such as export volume, value, growth, diversification, market share, and competitiveness index. Trade impact refers to the positive and negative effects of international trade on a country's economic, social, and environmental dimensions, such as income, employment, poverty, inequality, health, education, and sustainability. Monitoring and evaluating trade performance and impact can help a country assess its strengths and weaknesses, identify and address the gaps and challenges, and learn and improve from the best practices and experiences.

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Dr Olga Lazin

VICE PRESIDENT - PROFMEX CONSORTIUM FOR RESEARCH ON MEXICO
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Joining a Free trade group, and reducing import/export tarrifs are tantamount benefits of FTAs, which indirectly help the consolidation of civil and civic society, indirectly, by increasing wealth and perspective for NPPOs.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What are some effective ways to improve a country's competitiveness in international trade?

1

2

3

4

5

6

7

1 Enhance productivity and innovation

2 Diversify export markets and products

3 Improve trade facilitation and logistics

4 Strengthen trade policy and institutions

5 Develop trade skills and competencies

6 Monitor and evaluate trade performance and impact

7 Here’s what else to consider

Import/Export Operations

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What are some effective ways to improve a country's competitiveness in international trade?

1

2

3

4

5

6

7

1 Enhance productivity and innovation

2 Diversify export markets and products

3 Improve trade facilitation and logistics

4 Strengthen trade policy and institutions

5 Develop trade skills and competencies

6 Monitor and evaluate trade performance and impact

7 Here’s what else to consider

Import/Export Operations

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