Search results for: international technology trade

Authors: Mouhamed Mbouandi Njikam

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This work assesses the trade potential of countries in the Economic Community of Central Africa States (ECCAS). The gravity model of trade is used to evaluate the trade flows of member countries, and to compute the trade potential index of ECCAS during 1995-2010. The focus is on the removal of tariffs and non-tariff barriers in the sub-region. Estimates from the gravity model are used for the calculation of the sub-region’s commercial potential. Its three main findings are: (i) the background research shows a low level of integration in the sub-region and open economies; (ii) a low level of industrialization and diversification are the main factors reducing trade potential in the sub-region; (iii) the trade creation predominate on the deflections of trade between member countries.

Keywords: gravity model, ECCAS, trade flows, trade potential, regional cooperation

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Authors: Sarma Binti Aralas

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The relationship between property rights and trade specialization is examined for developing and developed countries using panel data analysis. Property rights is measured using the international property rights index while trade specialization is measured using the comparative advantage index. Cross country differences in property rights are hypothesized to lead to differences in trade specialization. Based on the argument that a weak protection of natural resources implies greater trade in resource-intensive goods, developing countries with less defined property rights are hypothesized to have a comparative advantage in resource-based exports while countries with more defined property rights will not have an advantage in resource-intensive goods. Evidence suggests that developing countries with weaker environmental protection index but are rich in natural resources do specialize in the trade of resource-intensive goods. The finding suggests that institutional frameworks to increase the stringency of environmental protection of resources may be needed to diversify exports away from the trade of resource-intensive goods.

Keywords: environmental protection, panel data, renewable resources, trade specialization

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Authors: Kgolagano Mpejane

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The study applies a New Institutional Economics (NIE) analytical framework to trade in developing economies by assessing the impacts of institutional quality and institutional quality distance on agricultural trade using a panel data of 15 Southern African Development Community (SADC) countries from the years 1991-2010. The issue of institutions on agricultural trade has not been accorded the necessary attention in the literature, particularly in developing economies. Therefore, the paper empirically tests the gravity model of international trade by measuring the impact of political, economic and legal institutions on intra SADC agricultural trade. The gravity model is noted for its exploratory power and strong theoretical foundation. However, the model has statistical shortcomings in dealing with zero trade values and heteroscedasticity residuals leading to biased results. Therefore, this study employs a two stage Heckman selection model with a Probit equation to estimate the influence of institutions on agricultural trade. The selection stages include the inverse Mills ratio to account for the variable bias of the gravity model. The Heckman model accounts for zero trade values and is robust in the presence of heteroscedasticity. The empirical results of the study support the NIE theory premise that institutions matter in trade. The results demonstrate that institutions determine bilateral agricultural trade on different margins with political institutions having positive and significant influence on bilateral agricultural trade flows within the SADC region. Legal and economic institutions have significant and negative effects on SADC trade. Furthermore, the results of this study confirm that institutional quality distance influences agricultural trade. Legal and political institutional distance have a positive and significant influence on bilateral agricultural trade while the influence of economic, institutional quality is negative and insignificant. The results imply that nontrade barriers, in the form of institutional quality and institutional quality distance, are significant factors limiting intra SADC agricultural trade. Therefore, gains from intra SADC agricultural trade can be attained through the improvement of institutions within the region.

Keywords: agricultural trade, institutions, gravity model, SADC

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Authors: Alina Gilmanova

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China’s dependency on coal for energy is causing pollution in China and abroad. To supply the increasing energy demand and being under the pressure from international society to reduce the emissions, China was pushed to develop renewable energy. The increasing subsidies in Renewable energy sources (RES) led not only to the price-cutting but also affecting the international trade in green technology sector. In order to evaluate the role of RES in foreign policy of China, I am going to give an (i) overview of RES development in China and examine the cooperation between China and (ii) developed, (ii) developing and emerging countries. The conclusive remarks are intended to address the question of how the present Chinese renewable energy development is impacting its foreign policy and international society.

Keywords: renewable energy, China, foreign affairs, brics, cooperation

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Authors: Burcu Guvenek, Duygu Baysal Kurt

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The impact of foreign trade on economic growth has been discussed since the Classical Economists. Today, foreign trade has become more important for the country's economy with the increasing globalization. When it comes to foreign trade, policies which may vary from country to country and from time to time as protectionism or free trade are implemented. In general, the positive effect of foreign trade on economic growth is alleged. However, as studies supporting this general acceptance take place in the economics literature, there are also studies in the opposite direction. In this paper, the impact of foreign trade on economic growth will be investigated with the help of panel data analysis. For this research, 24 OECD countries’ GDP and foreign trade data, including the period of 1990 and 2010, will be used.

Keywords: foreign trade, economic growth, OECD countries, panel data analysis

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Authors: Julio Vicente Cateia

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This paper aims to assess the role of informality and trade facilitation on the export probability of Guinea-Bissau. We include informality in the Féchet function, which gives the expression for the country's supply probability. We find that Guinea-Bissau is about 7.2% less likely to export due to the 1% increase in informality. The export's probability increases by about 1.7%, 4%, and 1.1% due to a 1% increase in trade facilitation, R&D stock, and year of education. These results are significant at the usual levels. We suggest a development agenda aimed at reducing the level of informality in this country.

Keywords: development, trade, informality, trade facilitation, economy of Guinea-Bissau

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Authors: Marwa Zein

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The long-term of the contract is one of the major features that distinguish international trade and investment contracts from other internal contracts. This is due to the nature of the contract and the huge works required to be performed from one hand or the desire of the parties to achieve stability in their transactions. However, long-term contracts might expose them to certain events and circumstances that impact the capability of the parties to execute their obligations pursuant to these contracts. During the year 2016, the Egyptian government has taken series of economic decisions which greatly impacted the economic and investment environment. Consequently, many contracts have encountered many problems in their execution due to such changes that greatly influence the performance of their obligation, a matter that necessitated the renegotiation of the conditions of these contracts on the basis of the unpredicted changes that could be listed under the Force Majeure Clause. The principle of fair and equitable treatment in investment placed on an obligation on the Egyptian government to consider the renegotiation of contract clauses based on the new conditions. This paper will discuss the idea of renegotiating international trade and investment contracts in Egypt with reference to the changes the economic environment has witnessed lately.

Keywords: change of circumstances, international contracts, investment contracts, renegotiation

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Authors: Liubov Evstigneeva

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In this paper an attempt is made to establish causal nexuses between innovation and international trade in Russia. The topicality of this issue is determined by the necessity of choosing policy instruments for economic modernization and transition to innovative development. The vector auto regression (VAR) model and Granger test are applied for the Russian monthly data from 2005 until the second quartile of 2015. Both lagged import and export at the national level cause innovation, the latter starts to stimulate foreign trade since it is a remote lag. In comparison to aggregate data, the results by patent’s categories are more diverse. Importing technologies from foreign countries stimulates patent activity, while innovations created in Russia are only Granger causality for import to Commonwealth of Independent States.

Keywords: export, import, innovation, patents

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Authors: E. Selçuk, Z. Karaçor, P. Yardımcı

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Trade liberalization and its effects on the economies of developing countries have been investigated by many different studies, and some of them have focused on its impact on the current account balance. Turkey, as being one of the countries, which has liberalized its foreign trade in the 1980s, also needs to be studied in terms of the impact of liberalization on current account deficits. Therefore, the aim of this study is to find out whether trade liberalization has affected Turkey’s trade and current account balances. In order to determine this, yearly data of Turkey from 1980 to 2013 is used. As liberalization dummy, the year 1989, which was set for Turkey, is selected. Structural break test and model estimation results show that trade liberalization has a negative impact on trade balance but do not have a significant impact on the current account balance.

Keywords: budget deficit, liberalization, Turkish economy, current account

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Authors: Sarita D. Jackson

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Agriculture remains a sensitive issue during multilateral trade negotiations within the World Trade Organization (WTO). Similar problems arise at the bilateral level, as in the case of trade talks between the United States and the Dominican Republic. The study explores the determinant of agricultural industry competitiveness in the 21^st century, particularly in the case of U.S. and Dominican agriculture in each other’s market. Complementing existing scholarship on industry competitiveness, the study argues that trade rules that are established under preferential access programs and trade agreements play a significant role in shaping an industry’s ability to compete. The final analysis is used to offer recommendations to the same sector in Cuba. Cuba currently relies heavily on U.S. food imports and is experiencing the gradual opening of trade with the United States.

Keywords: agriculture, bargaining, competitiveness, Dominican Republic, DR-CAFTA, free trade agreement, institutions

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Authors: Rishabh Garg

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Traditionally, business parties build trust with a centralized operating mechanism, such as payment by letter of credit. However, the increase in cyber-attacks and malicious hacking has jeopardized business operations and finance practices. Emerging markets, owing to their higher banking risks and bigger presence of digital financing, are looking forward to technology-driven solutions, financial inclusion and innovative working paradigms. Blockchain has the potential to enhance transaction transparency and supply chain traceability. It has captured a vast landscape with 200 million crypto users worldwide. Fintech and blockchain products are popping up across brokerage, digital wallets, exchanges, post-trade clearance, settlement, middleware, infrastructure, and base protocols.

Keywords: blockchain, distributed ledger technology, decentralized applications, ethereum, smart contracts, trade finance

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Authors: Olakunle Felix Adekunle

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In the recent years several non-tariff provisions have been regarded as means holding back transboundary environmental damages. Affected countries have then increasingly come up with trade policies to compensate for or to In recent years, several non‐tariff trade provisions have been regarded as means of holding back transboundary environmental damages. Affected countries have then increasingly come up with trade policies to compensate for or to enforce the adoption of environmental policies elsewhere. These non‐tariff trade constraints are claimed to threaten the freedom of trading across nations, as well as the harmonization sought towards the distribution of income and policy measures. Therefore the ‘greening’ of world trade issues essentially ranges over whether there ought or ought not to be a trade‐off between trade and environmental policies. The impacts of free trade and environmental policies on major economic variables (such as trade flows, balances of trade, resource allocation, output, consumption and welfare) are thus studied here, and so is the EKC hypothesis, when such variables are played against the resulting emission levels. The policy response is seen as a political game, played here by two representative parties named North and South. Whether their policy choices, simulated by four scenarios, are right or wrong depends on their policy goals, split into economic and environmental ones.

Keywords: environmental, policies, strategies, constraint

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Authors: Anthony Vandarakis

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Today’s International Service Learning practices require an update: modern technologies, fresh educational frameworks, and a new operating system to accountably prosper. This paper describes a model of International Service Learning (ISL), which combines current technological hardware, electronic platforms, and asynchronous communications that are grounded in inclusive pedagogy. This model builds on the work around collaborative field trip learning, extending the reach to international partnerships across continents. Mobile technology, 21^st century skills and summit-basecamp modeling intersect to support novel forms of learning that tread lightly on fragile natural ecosystems, affirm local reciprocal partnership in projects, and protect traveling participants from common yet avoidable cultural pitfalls.

Keywords: International Service Learning, ISL, field experiences, mobile technology, out there in here, summit basecamp pedagogy

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Authors: Marcel Kohler

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The effect of trade liberalization on environmental conditions has yielded a great deal of debate in the current energy economics literature. Although research on the relationship between income growth and CO2 emissions is not new in South Africa, few studies address the role that South Africa’s foreign trade plays in this context. This paper undertakes to investigate empirically the impact of South Africa’s foreign trade reforms over the last four decades on its energy consumption and CO2 emissions by taking into account not only the direct effect of trade on each, but also its indirect effect through income induced growth. Using co integration techniques we attempt to disentangle the long and short-run relationship between trade openness, income per capita and energy consumption and CO2 emissions in South Africa. The preliminary results of this study find support for a positive bi-directional relationship between output and CO2 emissions, as well as between trade openness and CO2. This evidence confirms the expectation that as the South African economy opens up to foreign trade and experiences growth in per capita income, the countries CO2 emissions will increase.

Keywords: trade openness, CO2 emissions, cointegration, South Africa

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Authors: Pınar Yardımcı

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This paper tries to answer to the questions whether or not trade openness cause economic growth and trade policy changes is good for Turkey as a developing country in global economy before and after 1980. We employ Johansen cointegration and Granger causality tests with error correction modelling based on vector autoregressive. Using WDI data from the pre-1980 and the post-1980, we find that trade openness and economic growth are cointegrated in the second term only. Also the results suggest a lack of long-run causality between our two variables. These findings may imply that trade policy of Turkey should concentrate more on extra complementary economic reforms.

Keywords: globalization, trade policy, economic growth, openness, cointegration, Turkey

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Authors: Mosses E. Lufuke

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This paper attempted to investigate whether there is Granger-causality running from trade to environment as evidenced in the changing climatic condition and land degradation. Using Tanzania as the reference, VAR-Granger-causality test was employed to rationalize the conundrum of causal-effect relationship between trade and environment. The changing climatic condition, as the proxy of both nitrous oxide emissions (in thousand metric tons of CO₂ equivalent) and land degradation measured by the size of arable land were tested against trade using both exports and imports variables. The result indicated that neither of the trade variables Granger-cause the variability on gas emissions and arable land size. This suggests the possibility that all trade concerns in relation to environment to have been internalized in domestic policies to offset any likely negative consequence.

Keywords: environment, growth, impact, trade

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Authors: Lisa Listiana

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ASEAN leader agreed to accelerate ASEAN Economic Community (AEC) implementation by 2015. The AEC Blueprint has set up obligations for its members to follow which include the establishment of (a) free trade in goods, according to ASEAN Free Trade Area: AFTA, (b) free trade in services, according to ASEAN Framework Agreement on Services: AFAS, (c) free trade in investment, according to ASEAN Comprehensive Investment Agreement: ACIA, (d) free capital flow, and (e) free flow of skilled labors. Consequently, these obligations bring both challenges and opportunities for its members. As accountant is included in the coverage of 8 skilled labors, the readiness of accounting profession to embrace AEC 2015 is pivotal. If Indonesian accountants do not accelerate their learning effort, the knowledge gap between Indonesian accountants and their international colleagues will only be worsened. This paper aims to analyze the current progress of AEC preparation and its challenges and opportunities for Indonesian accountants, and also to propose recommendation as necessary.

Keywords: AEC, ASEAN, readiness, Indonesian accountants

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Authors: Ahmad Almaududy Amri

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Southeast Asia is considered as an area which is important in terms of piratical studies. There are several reasons to this argument: firstly, it has the second highest figure of piracy attacks in the world from 2008 to 2012. Only the African Region transcends the number of piracies that were committed in Southeast Asia. Secondly, the geographical location of the region is very important to world trade. There are several sea lanes and straits which are normally used for international navigation mainly for trade purposes. In fact, there are six out of 25 busiest ports all over the world located in Southeast Asia. In ancient times, the main drivers of piracy were raiding for plunder and capture of slaves; however, in modern times, developments in politics, economics and even military technology have drastically altered the universal crime of piracy. There are a variety of motives behind modern day piracy including economic gains from receiving ransoms from government or ship companies, political and even terrorist reasons. However, it cannot be denied that piratical attacks persist and continue. States have taken measures both at the international and regional level in order to eradicate piratical attacks. The United Nations Convention on the Law of the Sea and the Convention on the Suppression of Unlawful Act against the Safety of Navigation served as the two main international legal frameworks in combating piracy. At the regional level, Regional Cooperation Agreement against Piracy and Armed Robbery and ASEAN measures are regard as prominent in addressing the piracy problem. This paper will elaborate the problems of piracy in Southeast Asia and examine the adequacy of legal frameworks at both the international and regional levels in order address the current legal measures in combating piracy. Furthermore, it will discuss current challenges in the implementation of anti-piracy measures at the international and regional levels as well as the way forward in addressing the issue.

Keywords: piracy, Southeast Asia, maritime security, legal frameworks

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Authors: Po-Kun Tsai

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The issue of climate change is essential in the 21st century. State governments have launched types of strategic industrial policies to encourage more widespread R&D in green technology. Research also indicates that technology is an essential tool to mitigate some of extreme situations. However, one could learn from several prominent cases in international trade area that they have been easily argued and disputed by the foreign counterparts. Thus, how to justify the public sector’s R&D measures under the current world trading system and how to promote the transfer of environmentally sound technologies (EST) to developing states are crucial. The study is to undertake a preliminary examination of the current R&D research area in green technology in Taiwan. Through selective interviews and comparative approach, it tries to identify the loopholes under the current legal framework in Taiwan. It would be, as a basis, for further legal and policy recommendations for the benefits of mankind.

Keywords: government, R&D, innovation, environmentally sound technology (EST)

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Authors: Shabana Noureen, Zafar Mahmood

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Economies consistently engage in trade across borders and face tariff, non-tariff barriers and other quotas that constitute trade costs. The trade costs imposed by policy barriers on exports are considered an impediment in the export growth rate. This work aims to measure over-year trends in total and bilateral trade costs and their trends in relevance to policy barriers (tariff and non-tariff). The analysis through the micro-founded theoretically based gravity model showed that the total trade costs have a general decreasing trend in the world while in the case of developing countries, the rate by which these trends decline is very low. Bilateral trade cost estimates associated with the policy barriers represent that the non-tariff barriers in a developing country have a major role in sustaining the high trade costs as compared to the tariff barriers. This ultimately leads to a low net declining rate. This work emphasizes that for developing countries the non-tariff barriers are a major factor that renders their exports and to be uncompetitive in the world market.

Keywords: trade costs, policy barriers, tariff barriers, non-tariff barriers, trade policies, export growth

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Authors: S. N. S. Thein, H. L. Yang, Z. B. Liu

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There are many modes of transport. Among them, maritime transport is a major transportation mode of international trade. In the Republic of the Union of Myanmar (Burma), water transportation served as one of the most important modes of transport for country's exports and imports. Getting the accurate information and data-gathering activity are the most important aspects for any study field. Therefore, in this research, a historical review of the development of ports in Myanmar and how they have changed had been carried out. All the relevant literature and documents have also been reviewed, studied, and organized. The sources of collected data are from reports, journals, internet, as well as from the publications of authorized organizations and international associations. To get better understanding about real situation of maritime transport and logistics in Myanmar; current condition of existing ports, expansion and on-going projects, and future port development plans are described successively. Hence, the main purpose of this study is to build up a comprehensive picture of maritime transport and logistics, in addition to border trade within ASEAN and Myanmar. It will help for academic researchers, decision makers, and stakeholders for national planning as well as for the local and foreign investors to recognize current situation of maritime transport and logistics in Myanmar.

Keywords: ASEAN, border trade, logistics, maritime transport, ports of Myanmar

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Authors: Ngo the Bach

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Vietnam is one of not many Asian countries that have a long-standing and famous tradition of pottery production. Vietnam is also one of three countries including China, Vietnam, and Japan developed strongly the export of ceramics to other countries. In recent decades, the studies of Vietnamese and foreign scholars on Vietnamese trade ceramics as well as Vietnamese foreign trade was initially recorded. The aim of this article is to introduce an overview of the findings situation and research results; the development of Vietnam ceramics and the Vietnamese history of maritime trade with Asian ceramics from the 14th century to the 17th century. Given that, the author systematized materials; carried out the synthetic and analysis for research results of Vietnamese and foreign researchers until now on Vietnamese export ceramics on the basis of the historical sources, archaeological findings discovered from relics in the tombs, relics of residence, relics of trading port inland, and the ancient shipwreck sank in the Asian countries.

Keywords: Vietnamese ceramics, trading, maritime, international

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Authors: Mohsen Qasemi

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In the international economic order multilateral trading system which established by General Agreement on Tariffs and Trade 1947 (GATT) was dominant until about two decades ago. Regional Trade Agreements (RTAs) have changed this order and become an important phenomenon. One of the main objectives of the World Trade Organization (WTO) as a central institution of multilateral trading system is raising standards of living. There are many scholars who suggest that WTO should take steps to protect human rights in its activities. Although it has always been opposing views who declare that since WTO has no explicit rule for human rights, it has no human rights related obligations. At the time that the WTO was established, member states began to join RTAs and since then, the escalating growth of these agreements and their effects on multilateral trading system has been controversial. There are some aspects of RTAs that have received too little attention from scholars. It is important to take a different view and evaluate the RTAs based on non-commercial aspects. The present paper seeks to answer this question: which system could be more useful in protecting human rights, RTAs or WTO?

Keywords: WTO, RTAs, human rights, multilateral trading system, non discrimination

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Authors: Tamas Dani

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The author’s research explores the geo-economical role and importance of some small and medium sized states, reviews their adaption strategies in foreign trade and also in foreign affairs in the course of changing into a multipolar world, uses international background. With these, the paper analyses the recent years and the future of ‘Opening towards Eastern foreign economic policies’ from East-Central Europe and parallel with that the ‘Western foreign economy policies’ from Asia, as the Chinese One Belt One Road new silk route plans (so far its huge part is an infrastructural development plan to reach international trade and investment aims). It can be today’s question whether these ideas will reshape the global trade or not. How does the new silk road initiatives and the Eurasian Union reflect the effect of globalization? It is worth to analyse that how did Central and Eastern European countries open to Asia; why does China have the focus of the opening policies in many countries and why could China be seen as the ‘winner’ of the world economic crisis after 2008. The research is based on the following methodologies: national and international literature, policy documents and related design documents, complemented by processing of international databases, statistics and live interviews with leaders from East-Central European countries’ companies and public administration, diplomats and international traders. The results also illustrated by mapping and graphs. The research will find out as major findings whether the state decision-makers have enough margin for manoeuvres to strengthen foreign economic relations. This work has a hypothesis that countries in East-Central Europe have real chance to diversify their relations in foreign trade, focus beyond their traditional partners. This essay focuses on the opportunities of East-Central-European countries in diversification of foreign trade relations towards China and Russia in terms of ‘Eastern Openings’. The effects of the new silk road initiatives and the Eurasian Union to Hungary’s economy with a comparing outlook on East-Central European countries and exploring common regional cooperation opportunities in this area. The essay concentrate on the changing trade relations between East-Central-Europe and China as well as Russia, try to analyse the effects of the new silk road initiatives and the Eurasian Union also. In the conclusion part, it shows how the cooperation is necessary for the East-Central European countries if they want to have a non-asymmetric trade with Russia, China or some Chinese regions (Pearl River Delta, Hainan, …). The form of the cooperation for the East-Central European nations can be Visegrad 4 Cooperation (V4), Central and Eastern European Countries (CEEC16), 3 SEAS Cooperation (or BABS – Baltic, Adriatic, Black Seas Initiative).

Keywords: China, East-Central Europe, foreign trade relations, geoeconomics, geopolitics, Russia

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Authors: Parashram Jakappa Patil

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India is the global leader in world cashew business and cashew-nut industry is one of the important food processing industries in world. However India is the largest producer, processor, exporter and importer eschew in the world. India is providing cashew to the rest of the world. India is meeting world demand of cashew. India has a tremendous potential of cashew production and export to other countries. Every year India earns more than 2000 cores rupees through cashew trade. Cashew industry is one of the important small scale industries in the country which is playing significant role in rural development. It is generating more than 400000 jobs at remote area and 95% cashew worker are women, it is giving income to poor cashew farmers, majority cashew processing units are small and cottage, it is helping to stop migration from young farmers for employment opportunities, it is motivation rural entrepreneurship development and it is also helping to environment protection etc. Hence India cashew business is very important agribusiness in India which has potential make inclusive development. World Bank and IMF recognized cashew-nut industry is one the important tool for poverty eradication at global level. It shows important of cashew business and its strong existence in India. In spite of such huge potential cashew processing industry is facing different problems such as lack of infrastructure ability, lack of supply of raw cashew, lack of availability of finance, collection of raw cashew, unavailability of warehouse, marketing of cashew kernels, lack of technical knowledge and especially processing technology and packaging of finished products. This industry has great prospects such as scope for more cashew cultivation and cashew production, employment generation, formation of cashew processing units, alcohols production from cashew apple, shield oil production, rural development, poverty elimination, development of social and economic backward class and environment protection etc. This industry has domestic as well as foreign market; India has tremendous potential in this regard. The cashew is a poor men’s crop but rich men’s food. The cashew is a source of income and livelihood for poor farmers. Cashew-nut industry may play very important role in the development of hilly region. The objectives of this paper are to identify problems of cashew processing and use of processing technology, problems of cashew kernel packaging, evolving of cashew processing technology over the year and its impact on final product and impact of good processing by adopting appropriate technology packaging on international trade of cashew-nut. The most important problem of cashew processing industry is that is processing and packaging. Bad processing reduce the quality of cashew kernel at large extent especially broken of cashew kernel which has very less price in market compare to whole cashew kernel and not eligible for export. On the other hand if there is no good packaging of cashew kernel will get moisture which destroy test of it. International trade of cashew-nut is depend of two things one is cashew processing and other is packaging. This study has strong relevance because cashew-nut industry is the labour oriented, where processing technology is not playing important role because 95% processing work is manual. Hence processing work was depending on physical performance of worker which makes presence of large workforce inevitable. There are many cashew processing units closed because they are not getting sufficient work force. However due to advancement in technology slowly this picture is changing and processing work get improve. Therefore it is interesting to explore all the aspects in context of cashew processing and packaging of cashew business.

Keywords: cashew, processing technology, packaging, international trade, change

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Authors: Shehu Usman Rano Aliyu

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Despite the significance of finance as a major trade lubricant, evidence in the literature alludes to its scarcity and increasing cost, especially in developing countries where small and medium-scale enterprises are worst affected. The creation of the African Continental Free Trade Area (AFCFTA) in 2018, an organ of the African Union (AU), was meant to serve as a beacon for deepening economic integration through the removal of trade barriers inhibiting intra-African trade and movement of persons, among others. Hence, this research explores the role Islamic trade finance (ITF) could play in spurring intra- and inter-African trade. The study involves six countries; Egypt, Kenya, Malaysia, Morocco, Nigeria, and Saudi Arabia, and employs survey research, a total of 430 sample data, and SmartPLS Structural Equation Modelling (SEM) techniques in its analyses. We find strong evidence that Shari’ah, legal and regulatory compliance issues of the ITF institutions rhythm with the internal, national, and international compliance requirements equally as the unique instruments applied in ITF. In addition, ITF was found to be largely driven by global economic and political stability, socially responsible finance, ethical and moral considerations, risk-sharing, and resilience of the global Islamic finance industry. Further, SMEs, Governments, and Importers are the major beneficiary sectors. By and large, AfCFTA’s protocols align with the principles of ITF and are therefore suited for the proliferation of Islamic finance in the continent. And, while AML/KYC and BASEL requirements, compliance to AAOIFI and IFSB standards, paucity of Shari'ah experts, threats to global security, and increasing global economic uncertainty pose as major impediments, the future of ITF would be shaped by a greater need for institutional and policy support, global economic cum political stability, robust regulatory framework, and digital technology/fintech. The study calls for the licensing of more ITF institutions in the continent, participation of multilateral institutions in ITF, and harmonization of Shariah standards.

Keywords: AfCFTA, islamic trade finance, murabaha, letter of credit, forwarding

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Authors: Ahmed S. Khan, Amin Karim

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During the past several decades, the economy of each nation has been significantly affected by globalization and technology. Government regulations and private sector standards affect a majority of world trade. Countries have been working together to establish international standards in almost every field. As a result, workers in all sectors need to have an understanding of standards. Engineering and technology students must not only possess an understanding of engineering standards and applicable government codes, but also learn to apply them in designing, developing, testing and servicing products, processes and systems. Accreditation Board for Engineering & Technology (ABET) criteria for engineering and technology education require students to learn and apply standards in their class projects. This paper is a follow-up of a 2006-2009 NSF initiative awarded to IEEE to help develop tutorials and case study modules for students and encourage standards education at college campuses. It presents the findings of a faculty/institution survey conducted through various U.S.-based listservs representing the major engineering and technology disciplines. The intent of the survey was to the gauge the status of use of standards and regulations in engineering and technology coursework and to identify benchmark practices. In light of survey findings, recommendations are made to standards development organizations, industry, and academia to help enhance the use of standards in engineering and technology curricula.

Keywords: standards, regulations, ABET, IEEE, engineering, technology curricula

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Authors: William Castillo, Hugo Viza, Arturo Vargas

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The Pacific Alliance is a trade bloc that is composed of four emerging economies: Chile, Colombia, Peru, and Mexico. These economies have gained macroeconomic stability in the past decade and as a consequence present future economic progress. Under this positive scenario, international business firms have flourished. However, the literature in this region has been widely unexamined. Therefore, it is critical to fill this theoretical gap, especially considering that Latin America is starting to become a global player and it possesses a different institutional context than developed markets. This paper analyzes the effect of international entrepreneurial orientation and institutionalism on international performance, for the Pacific Alliance small-to-medium enterprises (SMEs). The literature considers international entrepreneurial orientation to be a powerful managerial capability – along the resource based view- that firms can leverage to obtain a satisfactory international performance. Thereby, obtaining a competitive advantage through the correct allocation of key resources to exploit the capabilities here involved. Entrepreneurial Orientation is defined around five factors: innovation, proactiveness, risk-taking, competitive aggressiveness, and autonomy. Nevertheless, the institutional environment – both local and foreign, adversely affects International Performance; this is especially the case for emerging markets with uncertain scenarios. In this way, the study analyzes an Entrepreneurial Orientation, key endogenous variable of international performance, and Institutionalism, an exogenous variable. The survey data consists of Pacific Alliance SMEs that have foreign operations in at least another country in the trade bloc. Findings are still in an ongoing research process. Later, the study will undertake a structural equation modeling (SEM) using the variance-based partial least square estimation procedure. The software that is going to be used is the SmartPLS. This research contributes to the theoretical discussion of a largely postponed topic: SMEs in Latin America, that has had limited academic research. Also, it has practical implication for decision-makers and policy-makers, providing insights into what is behind international performance.

Keywords: institutional theory, international entrepreneurial orientation, international performance, SMEs, Pacific Alliance

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Authors: Tamar Lazariashvili

Abstract:

There are a number of factors that determine the growth and development of the country's economy; however, trade and economic relations with other countries are the most important of all these factors. The paper analyzes the trade and economic relations between Georgia and Germany, identifies the impediments caused by the Covid pandemic, and substantiates the need for further economic cooperation between the countries. Research objectives. The objective of the research is to develop recommendations and reveal the prospects of further cooperation between Georgia and Germany based on identifying the problems in the field of trade and economy in the post-crisis situation. The research object is Georgian German economic relations. Germany is Georgia's largest trading partner in the European Union. Georgia and Germany actively cooperate within the framework of international organizations as well. The paper analyzes the multilateral and intensive economic relations between Germany and Georgia; evaluates the investments of German companies in Georgia and the activities of Georgian companies in Germany. Research methods. The paper uses general and specific research methods; in particular, analysis, synthesis, induction, deduction, comparison, statistical (selection, grouping, observation, trend), and other research methods.SWOT analysis is used to determine development opportunities between countries. As a result of the research economic ranking of Georgia and Germany are determined according to the above criteria, the causes of the impediments due to the pandemic are studied; the main problems in the field of trade and economy are identified. The paper provides conclusions on the problems in the trade relations between Georgia and Germany and suggests recommendations regarding the prospects for improving these relations.

Keywords: georgia-germany, trade and economic relations, economic ranking, perspective directions

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Authors: Yasir Khan, Qiu Bin, Antonio-Mihi Ramirez

Abstract:

This study determines the inflow of international students to China in recent years and the corresponding internationalization strategies in the higher education sector. China has placed attracting international students on in its plan along with the growing of global impact. Acknowledging the stable economy, growth rate, trade, lower renminbi rate, high wages, employment opportunities, high level income per capita, relative low taxes and political system consolidate to attract more international students. A large number of international students making a vast contribution to the higher education sector of China. Understanding the significance of education mission as well as of financial ‘bottom line’ the Chinese government gave great importance to invite more international students from worldwide. The large number of international students in the China has been particularly notable from Asian countries specifically neighboring countries, Pakistan, Thailand, India, Vietnam, South Korea, Magnolia, Malaysia, and Russia. This study summarizes internationalization of higher education in China and also provides directions for future research in this regard.

Keywords: international student mobility, 2020 Govt Planning, emerging market, internationalization of higher education

Procedia PDF Downloads 229