INTERNATIONAL TRADE ANSWER

1. BRIEFLY DISCUSS INTERNATIONAL TRADE.
International Trade is a kind of trade where the ones involved in exchange of goods or services are not in
the same country because trade here happens externally or from one country to another country.

2. IDENTIFY AND DESCRIBE THE OPERATIONS OF AT LEAST THREE (3) INTERNATIONAL
ECONOMIC ORGANIZATIONS
1. UNITED NATIONS ECONOMIC AND SOCIAL COUNCIL (ECOSOC)
• It is the central forum for discussing international economic and social issues and for formulating
policy recommendations. It maintains the vital link between the United Nations and Civil Societies
• The operations of ECOSOC focus on promoting social progress and better standard of living.
- The council has 54 members, elected by the General Assembly for 3-year terms, wherein it meets throughout the year
and holds a major session in July, during which a high-level meeting of ministers discussed major economic, social and
humanitarian Issues.

3. INTERNATIONAL TRADE CENTRE (ITC)
• It is the only international agency fully dedicated to the development of micro, small and medium-sized
enterprises. Working with their partners (UN and World Trade Organization) to strengthen the
competitiveness of small business exporters, they help to build vibrant, sustainable export sectors that provide
entrepreneurial opportunities, particularly for women, young people and poor communities.
• The operations of ITC are to provide trade and market intelligence, and build a conducive business
environment which strengthen trade and investment support institutions, and connecting to international value
chain while promoting and mainstreaming inclusive and green trade, and supporting regional economic integration
and South-South links.

4. WORLD BANK
• The World Bank is an international development organization owned by 187 countries. It is an international
financial institution which purpose is to pursue capital project by providing loans and grants to the governments of
low- and middle-income countries.
• Its duty is to reduce poverty by lending money to the governments of its poorer members and to promote
shared prosperity which will improve their economies and improve the standard of living of their people, thus,
promoting sustainable development.
• Technically, the World Bank is part of the United Nations system, but its governance structure is different: each
institution in the World Bank Group is owned by its member governments, which subscribe to its basic share
capital, with votes proportional to shareholding.

5. BRIEFLY DISCUSS WHY A BUSINESS EXPANDS ABROAD.
• Businesses expand to abroad or to another country in order to increase/expand the scope of their business, while doing
so, they also increase their gained profit. Also, they are able to reach their desired customer and they can easily provide
good and services to their customers not just in their country but also globally. Furthermore, Countries tries to expand
their international boarders to facilitate trade that can boost their country’s economic growth.