In: Economics
There are many different types of certificates that can be requested by the importing country or the importer. Describe three of them.
Post a 350 to 500-word response
Usually the procedures for imports and exports are a bit lengthy and complicated. It involves licensing and compliance before the shipment of goods, warehousing after unloading and even arranging for transport services. Various kinds of taxes and duties need to be paid. The regulations related to import and export differ from country to country. But importing is always preferred by mostly all countries. It is mainly very helpful to global economy. There are various benefits of importing like one can extend the profit margin by entering into another country's market. Better quality is another reason, the local people of the country get variety of choices which indirectly increases competitions and encourages the local manufacturers to produce better products. If worked with a government regulated trading program, imports can be less complex. These reasons are there which encourages more exports and imports apart from more profits and so exporters and importers are ready to go through the long list of legal and government procedures.
The documents or certificates required for importing cargo is mostly based on the product imported. Bilateral, unilateral or multilateral trade agreements or other trade policies of importing country government is needed. The import documents mostly depend on the nature of the product (dangerous goods, general goods, livestock etc) or specific goods (food products, chemicals, arms and ammunition)
However, these three certificates are much needed while importing goods,