External trade, or foreign trade, refers to the buying and selling of goods between two countries. It leads to increased sales and profits, improved product quality through advancement in technology, and diversified products and markets. External trade also provides stability in prices, better use of national resources, increased employment, accelerated economic growth, and promotes cooperation among nations. The document goes on to outline the key procedures for exporting goods such as obtaining necessary codes, confirming orders, manufacturing, inspection, customs clearance, and transporting goods via ship. It also provides an overview of important import procedures such as obtaining codes, marketing research, opening letters of credit, customs clearance, and informing importers of goods' arrivals.

2. MEANING
Buying and
selling of goods
between two
countries are
called external
trade of foreign
trade

3. Nature of
external
trade
Increase in
sales and
profits
Improves
quality of
products
Advancement
in technology
Diversification
of products
and market
Stability in
price Better use of
national
resources
Generates
employment
Accelerates
economic
growth
Promotes co-
operation
among
nations

5. EXPORT PROCEEDURES
 Obtaining Importer’s Exporter’s Code
(IEC)Number
 Conducting marketing research
 Confirmation of export order
 Manufacturing goods
 Excise clearance (ctd)

6. EXPORT PROCEEDURES
 Pre shipment inspection
 Consignment inspection
 In process quality control
 Self certification
 Customs clearance
 Port procedures
 Obtaining Bill of Lading
 Submission of Documents toe the bank

7. IMPORT PROCEEDURES
Obtaining
IEC
Number &
RCMC
Conducting
Marketing
research
Opening a
letter of
credit
Arrival of
goods
Informing
the
importer
Customs
clearance