The importance of international trade and business is immense, serving as a fundamental pillar of the global economy. It involves the exchange of goods, services, technology, and capital across national borders, leading to a wide array of benefits for countries, businesses, and consumers alike.
Economic Growth and Development
Increased National Income: By exporting goods and services, countries can tap into global markets, boost production, and generate higher income levels, which contributes to the national GDP.
Optimal Resource Utilization:
International trade allows countries to specialize in producing goods and services where they have a **comparative advantage** (producing more efficiently or at a lower opportunity cost). This leads to a more efficient use of global resources.
Foreign Exchange Earnings:
Exports bring in foreign currency, which is crucial for a country to finance its imports and strengthen its home economy.
Foreign Direct Investment (FDI): International business encourages FDI, bringing capital, technology, and expertise that can stimulate industrial growth and development in the host country.
Benefits for Consumers and Businesses:
Access to Diverse Goods: Consumers gain access to a wider variety of products and services that might not be available or efficiently produced domestically (e.g., specific raw materials, foreign-made electronics, or agricultural products).
Lower Prices: Global competition compels domestic businesses to innovate, improve efficiency, and keep prices competitive, ultimately benefiting consumers.
Economies of Scale: By accessing larger international markets, businesses can increase their production volume, which lowers the cost per unit and allows them to achieve economies of scale.
Market Expansion and Revenue Companies can expand their customer base beyond domestic borders, leading to increased sales, revenue, and brand awareness.
Innovation and Efficiency:
Technological Transfer: International business acts as a conduit for the exchange of advanced technology, expertise, and best practices, which fosters industrial growth and innovation, particularly in developing nations.
Increased Competition: Exposure to international rivals forces domestic companies to constantly improve their product quality, processes, and service delivery to remain competitive.
Employment and Stability:
Job Creation: Industries involved in export and import activities, as well as foreign-owned subsidiaries, tend to grow faster, creating job opportunities across manufacturing, logistics, technology, and services.
Risk Diversification: For businesses, operating in multiple international markets reduces reliance on a single domestic market. If one market faces an economic downturn or political issue, losses can be offset by gains in other regions.
International Relations:
Strengthened Ties: Economic partnerships formed through trade agreements create mutual benefits and foster stronger diplomatic and political ties between nations, promoting global stability and cooperation. Organizations like the WTO (World Trade Organization) and regional trade blocs facilitate this cooperation.
In essence, international trade and business is an indispensable force that drives prosperity, connects the world, and plays a vital role in improving living standards globally.
To impart knowledge in the arena of our country and facilitate people with necessary know how Dhaka University is inviting application for the following graduate/master’s program:
Title: Master of International Trade & Business
Entry requirement:
Bachelor with CGPA 2.5 in 4 scale along with 01(One) year job experience.
Application Fee: Tk.1,500/-
Application Deadline: December 08, 2025
For further details and application Click Here
